Raymond James Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its price objective decreased by Raymond James from C$9.75 to C$9.00 in a report released on Wednesday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other analysts also recently weighed in on NXR.UN. Royal Bank of Canada lowered their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a sector perform rating on the stock in a report on Monday, March 18th. BMO Capital Markets lowered their target price on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. National Bankshares lowered their target price on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a sector perform rating on the stock in a report on Wednesday. CIBC lowered their target price on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a report on Friday, March 15th. Finally, TD Securities decreased their price objective on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of C$8.61.

Nexus Industrial REIT Price Performance

Shares of TSE:NXR.UN opened at C$7.14 on Wednesday. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$9.97. The company has a debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12. The firm has a market capitalization of C$490.95 million, a P/E ratio of 3.06 and a beta of 1.45. The company’s fifty day moving average price is C$7.58 and its 200 day moving average price is C$7.59.

Nexus Industrial REIT Dividend Announcement

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