Nexus Industrial REIT (TSE:NXR.UN) Director Buys C$448,024.90 in Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin acquired 53,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of C$8.45 per share, with a total value of C$448,024.90.

Nexus Industrial REIT Price Performance

NXR.UN opened at C$8.42 on Friday. Nexus Industrial REIT has a 12-month low of C$6.08 and a 12-month high of C$8.61. The company has a market cap of C$595.63 million, a price-to-earnings ratio of 3.54 and a beta of 1.51. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The stock has a fifty day simple moving average of C$7.67 and a two-hundred day simple moving average of C$7.43.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a $0.0533 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 7.60%. Nexus Industrial REIT’s payout ratio is 26.89%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NXR.UN shares. Scotiabank boosted their price target on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. CIBC reduced their target price on Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. 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, August 16th. BMO Capital Markets lifted their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Monday, August 19th. Finally, National Bankshares upgraded shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$8.78.

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.