Nexus Industrial REIT (TSE:NXR.UN) Downgraded to “Sector Perform” Rating by National Bankshares

National Bankshares lowered shares of Nexus Industrial REIT (TSE:NXR.UN) from an outperform rating to a sector perform rating in a research report sent to investors on Monday,BayStreet.CA reports. The firm currently has C$6.75 target price on the stock, down from their prior target price of C$8.75.

NXR.UN has been the topic of several other reports. Raymond James cut their price target on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Scotiabank downgraded shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Desjardins reduced their target price on shares of Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada dropped their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Nexus Industrial REIT has an average rating of “Moderate Buy” and an average price target of C$8.22.

Nexus Industrial REIT Stock Up 1.9 %

NXR.UN opened at C$6.47 on Monday. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The company has a market capitalization of C$457.69 million, a PE ratio of 2.67 and a beta of 1.51. The stock’s fifty day moving average is C$7.02 and its 200-day moving average is C$7.66. Nexus Industrial REIT has a one year low of C$5.98 and a one year high of C$9.15.

Nexus Industrial REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 9.89%. The ex-dividend date is Wednesday, April 30th. Nexus Industrial REIT’s dividend payout ratio (DPR) is currently 26.45%.

Insider Activity

In related news, Director Edwin E. Mclaughlin purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average cost of C$6.49 per share, for a total transaction of C$51,934.40. Corporate insiders own 32.92% of the company’s stock.

About Nexus Industrial REIT

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.