Nexus Industrial REIT (TSE:NXR.UN) Shares Up 1.1% – Time to Buy?

Shares of Nexus Industrial REIT (TSE:NXR.UN) shot up 1.1% during trading on Tuesday . The stock traded as high as C$7.40 and last traded at C$7.35. 569,876 shares were traded during trading, an increase of 221% from the average session volume of 177,495 shares. The stock had previously closed at C$7.27.

Analyst Ratings Changes

Several research firms have commented on NXR.UN. CIBC lifted their price target on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Raymond James decreased their target price on shares of Nexus Industrial REIT from C$9.75 to C$9.00 in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$8.72.

Nexus Industrial REIT Trading Up 1.1 %

The stock has a market cap of C$519.94 million, a P/E ratio of 3.04 and a beta of 1.51. The stock’s fifty day moving average price is C$7.50 and its 200 day moving average price is C$8.03. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 14th will be paid a $0.0533 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Friday, February 28th. Nexus Industrial REIT’s payout ratio is 26.45%.

Insiders Place Their Bets

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 50,000 shares of Nexus Industrial REIT stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of C$7.88 per share, with a total value of C$393,845.00. 32.92% of the stock is owned by insiders.

Nexus Industrial REIT Company Profile

Nexus Industrial REIT 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.