Analysts Set Nexus Industrial REIT (TSE:NXR.UN) PT at C$8.47

Shares of Nexus Industrial REIT (TSE:NXR.UN) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$8.72.

NXR.UN has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday. Desjardins upped their price objective on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research note on Friday. National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$7.50 to C$8.00 in a research report on Thursday, July 18th. TD Securities reduced their target price on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday, April 24th. Finally, Raymond James raised their price target on Nexus Industrial REIT from C$8.50 to C$9.25 and gave the stock an “outperform” rating in a research note on Friday.

Nexus Industrial REIT Price Performance

NXR.UN stock opened at C$7.83 on Monday. The business has a 50 day moving average price of C$7.25 and a 200 day moving average price of C$7.40. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 133.88. The stock has a market cap of C$553.89 million, a price-to-earnings ratio of 2.69 and a beta of 1.51. Nexus Industrial REIT has a fifty-two week low of C$6.08 and a fifty-two week high of C$8.60.

Nexus Industrial REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a $0.0533 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.17%. Nexus Industrial REIT’s payout ratio is 21.99%.

Insider Activity

In other news, Director Edwin E. Mclaughlin acquired 100,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of C$6.80 per share, with a total value of C$679,850.00. In other news, Director Edwin E. Mclaughlin acquired 100,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of C$6.80 per share, with a total value of C$679,850.00. Also, Director Edwin E. Mclaughlin acquired 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of C$7.07 per share, for a total transaction of C$63,586.80. Insiders have acquired 111,160 shares of company stock valued at $758,691 in the last ninety days. 32.95% of the stock is currently owned by company insiders.

About Nexus Industrial REIT

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.