Killam Apartment REIT (TSE:KMP.UN) Reaches New 52-Week Low – Time to Sell?

Killam Apartment REIT (TSE:KMP.UN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$16.59 and last traded at C$16.59, with a volume of 55355 shares. The stock had previously closed at C$16.72.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KMP.UN shares. National Bankshares lifted their price objective on Killam Apartment REIT from C$22.75 to C$24.00 in a research report on Wednesday, October 9th. Royal Bank of Canada lowered their price objective on Killam Apartment REIT from C$24.50 to C$23.50 in a research note on Friday, November 8th. Finally, Raymond James reduced their price target on shares of Killam Apartment REIT from C$23.50 to C$22.25 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$22.38.

Killam Apartment REIT Price Performance

The company has a market cap of C$1.97 billion, a PE ratio of 6.37 and a beta of 1.10. The company has a debt-to-equity ratio of 82.05, a current ratio of 0.10 and a quick ratio of 0.03. The stock’s 50-day moving average is C$17.60 and its 200 day moving average is C$18.75.

Killam Apartment REIT Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, January 31st. This is a positive change from Killam Apartment REIT’s previous monthly dividend of $0.06. Killam Apartment REIT’s dividend payout ratio is 26.92%.

Killam Apartment REIT Company Profile

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.