Nexus Industrial REIT Plans Monthly Dividend of $0.05 (TSE:NXR.UN)

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, August 30th, TickerTech reports. Investors of record on Monday, September 16th will be given a dividend of 0.0533 per share on Monday, September 16th. This represents a $0.64 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date of this dividend is Friday, August 30th.

Nexus Industrial REIT Trading Down 2.1 %

NXR.UN opened at C$8.39 on Thursday. Nexus Industrial REIT has a one year low of C$6.08 and a one year high of C$8.61. The company has a debt-to-equity ratio of 129.94, a quick ratio of 0.12 and a current ratio of 0.44. The stock has a market cap of C$593.51 million, a price-to-earnings ratio of 3.53 and a beta of 1.51. The stock’s 50 day moving average price is C$7.46 and its 200-day moving average price is C$7.41.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of C$6.80 per share, with a total value of C$679,850.00. In related news, Director Edwin E. Mclaughlin acquired 9,000 shares of Nexus Industrial REIT stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of C$7.07 per share, for a total transaction of C$63,586.80. Also, Director Edwin E. Mclaughlin acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of C$6.80 per share, with a total value of C$679,850.00. Insiders bought 109,660 shares of company stock worth $748,011 in the last 90 days. Insiders own 32.92% of the company’s stock.

Wall Street Analyst Weigh In

NXR.UN has been the subject of a number of research reports. 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. Desjardins upped their target price on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a report on Friday, August 16th. CIBC cut their price target 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 lifted their price objective on Nexus Industrial REIT from C$8.50 to C$9.25 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, National Bankshares upgraded shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and an average target price of C$8.78.

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.