Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.22 Average Price Target from Analysts

Nexus Industrial REIT (TSE:NXR.UN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$8.22.

Several equities analysts recently weighed in on NXR.UN shares. Scotiabank lowered shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$8.50 to C$7.00 in a research report on Tuesday, April 8th. National Bankshares cut Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$8.75 to C$6.75 in a research report on Monday, April 14th. Raymond James lowered their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Desjardins reduced their target price on 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 lowered 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.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin bought 8,000 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of C$6.49 per share, for a total transaction of C$51,934.40. Insiders purchased a total of 14,925 shares of company stock valued at $98,728 over the last three months. Company insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Stock Down 3.3 %

Shares of Nexus Industrial REIT stock opened at C$6.54 on Friday. Nexus Industrial REIT has a 12-month low of C$5.98 and a 12-month high of C$9.15. The firm has a market capitalization of C$462.64 million, a PE ratio of 2.70 and a beta of 1.51. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The stock’s fifty day moving average is C$6.96 and its 200-day moving average is C$7.59.

Nexus Industrial REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a dividend yield of 9.78%. The ex-dividend date is Wednesday, April 30th. Nexus Industrial REIT’s payout ratio is 26.45%.

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.