Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.92 Average Price Target from Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$8.92.

A number of brokerages have recently weighed in on NXR.UN. Desjardins boosted their target price on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. BMO Capital Markets raised their target price on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Royal Bank of Canada lifted their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. Raymond James raised their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Finally, Scotiabank boosted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, August 16th.

Nexus Industrial REIT Stock Up 0.3 %

Nexus Industrial REIT stock opened at C$7.96 on Wednesday. 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 firm’s fifty day moving average price is C$8.57 and its two-hundred day moving average price is C$7.83. The firm has a market capitalization of C$563.09 million, a price-to-earnings ratio of 3.30 and a beta of 1.51. Nexus Industrial REIT has a 1-year low of C$6.47 and a 1-year high of C$9.15.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be given a dividend of $0.0533 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 8.04%. Nexus Industrial REIT’s payout ratio is 26.45%.

Insider Activity at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 53,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of C$8.45 per share, for a total transaction of C$448,024.90. Insiders purchased 118,991 shares of company stock worth $1,023,523 in the last ninety days. 32.92% of the stock is owned by company insiders.

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.