Nexus Industrial REIT (TSE:NXR.UN) Price Target Cut to C$7.50 by Analysts at TD Securities

Nexus Industrial REIT (TSE:NXR.UN) had its price objective trimmed by TD Securities from C$8.00 to C$7.50 in a research report report published on Wednesday morning, BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a sector perform rating for the company in a research note on Monday, March 18th. CIBC decreased their price target on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research note on Friday, March 15th. Raymond James increased their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.75 and gave the stock an outperform rating in a research note on Monday, January 8th. National Bankshares decreased their price target on shares of Nexus Industrial REIT from C$8.75 to C$8.50 in a research note on Friday, March 15th. Finally, Laurentian set a C$10.00 price target on shares of Nexus Industrial REIT and gave the stock a buy rating in a research note on Monday, January 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of C$8.61.

Nexus Industrial REIT Trading Down 2.1 %

Shares of Nexus Industrial REIT stock opened at C$7.14 on Wednesday. The stock has a market cap of C$490.95 million, a price-to-earnings ratio of 3.06 and a beta of 1.45. The company has a fifty day simple moving average of C$7.58 and a 200-day simple moving average of C$7.59. The company has a current ratio of 0.36, a quick ratio of 0.12 and a debt-to-equity ratio of 139.77. Nexus Industrial REIT has a 12-month low of C$6.08 and a 12-month high of C$9.97.

Nexus Industrial REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.0533 per share. The ex-dividend date is Monday, April 29th. This represents a $0.64 dividend on an annualized basis and a yield of 8.96%. Nexus Industrial REIT’s payout ratio is currently 27.47%.

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.