BMO Capital Markets Boosts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.50

Nexus Industrial REIT (TSE:NXR.UN) had its price target increased by BMO Capital Markets from C$8.00 to C$8.50 in a report published on Monday, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on the stock. CIBC reduced 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. Scotiabank boosted their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an outperform rating in a research report on Friday, August 16th. Desjardins increased their price objective on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a buy rating in a research report on Friday, August 16th. Royal Bank of Canada lifted their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Finally, TD Securities lowered their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of C$8.78.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN opened at C$8.03 on Monday. Nexus Industrial REIT has a fifty-two week low of C$6.08 and a fifty-two week high of C$8.60. The company has a debt-to-equity ratio of 133.88, a quick ratio of 0.12 and a current ratio of 0.45. The company has a 50 day simple moving average of C$7.29 and a two-hundred day simple moving average of C$7.39. The company has a market capitalization of C$568.04 million, a price-to-earnings ratio of 2.76 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be given 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 7.97%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 21.99%.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin purchased 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. 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. Also, Director Edwin E. Mclaughlin acquired 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of C$7.07 per share, with a total value of C$63,586.80. Insiders have purchased a total of 109,660 shares of company stock valued at $748,011 over the last quarter. 32.95% of the stock is currently owned by 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.