Nexus Industrial REIT (TSE:NXR.UN) Raised to Outperform at National Bankshares

National Bankshares upgraded shares of Nexus Industrial REIT (TSE:NXR.UN) from a sector perform rating to an outperform rating in a research report released on Thursday, BayStreet.CA reports. National Bankshares currently has C$8.00 target price on the stock, up from their prior target price of C$7.50.

A number of other research firms have also weighed in on NXR.UN. CIBC lowered their price objective on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an outperform rating on the stock in a research report on Thursday, May 16th. Royal Bank of Canada lowered their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Scotiabank lowered their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.50 in a research report on Thursday, May 16th. Raymond James decreased their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an outperform rating on the stock in a research report on Thursday, May 16th. Finally, Desjardins decreased their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a buy rating on the stock in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$8.47.

Nexus Industrial REIT Stock Performance

TSE:NXR.UN opened at C$7.74 on Thursday. The firm’s fifty day moving average price is C$7.05 and its 200 day moving average price is C$7.49. Nexus Industrial REIT has a 1-year low of C$6.08 and a 1-year high of C$8.60. The company has a debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12. The firm has a market cap of C$533.21 million, a price-to-earnings ratio of 3.32 and a beta of 1.46.

Nexus Industrial REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.0533 per share. The ex-dividend date was Monday, April 29th. This represents a $0.64 annualized dividend and a dividend yield of 8.26%. Nexus Industrial REIT’s payout ratio is currently 27.47%.

Insider Transactions at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average price of C$6.80 per share, with a total value of C$679,850.00. In other news, Director Edwin E. Mclaughlin purchased 9,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of C$7.07 per share, with a total value of C$63,586.80. Also, Director Edwin E. Mclaughlin bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average cost of C$6.80 per share, with a total value of C$679,850.00. Insiders bought 111,160 shares of company stock valued at $758,691 in the last 90 days. 33.83% of the stock is currently owned by insiders.

Nexus Industrial REIT Company Profile

Nexus is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial, office and retail properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.