Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) Target Price at C$8.18

Shares of Nexus Industrial REIT (TSE:NXR.UN) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$8.18.

NXR.UN has been the topic of a number of recent analyst reports. Raymond James increased their target price on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. CIBC lowered Nexus Industrial REIT from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$8.50 to C$7.50 in a report on Wednesday. National Bankshares boosted their target price on Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a “sector perform” rating in a report on Thursday, May 22nd. Scotiabank upped their target price on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada cut 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 research report on Tuesday, March 11th.

Nexus Industrial REIT Stock Down 1.1%

Shares of Nexus Industrial REIT stock opened at C$7.38 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a 52-week low of C$5.98 and a 52-week high of C$9.15. The company has a market capitalization of C$522.06 million, a P/E ratio of 3.05 and a beta of 1.51. The company has a 50 day moving average of C$7.00 and a 200 day moving average of C$7.27.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 15th were given a dividend of $0.0533 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.64 annualized dividend and a dividend yield of 8.67%. Nexus Industrial REIT’s dividend payout ratio is currently 26.45%.

Insiders Place Their Bets

In other news, Director Daniel Martin Oberste bought 5,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of C$7.54 per share, with a total value of C$37,675.00. Also, Director Edwin E. Mclaughlin purchased 3,651 shares of Nexus Industrial REIT stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of C$7.20 per share, for a total transaction of C$26,295.60. Over the last 90 days, insiders purchased 20,347 shares of company stock valued at $140,322. 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.