Nexus Industrial REIT (TSE:NXR.UN) Given New C$9.00 Price Target at Desjardins

Nexus Industrial REIT (TSE:NXR.UN) had its target price hoisted by Desjardins from C$8.75 to C$9.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. TD Securities upped their price target on Nexus Industrial REIT from C$7.00 to C$8.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. CIBC lifted their price objective on Nexus Industrial REIT from C$7.50 to C$8.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 13th. Finally, National Bankshares reduced their target price on Nexus Industrial REIT from C$8.50 to C$8.25 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$8.38.

Nexus Industrial REIT Stock Up 2.0%

Shares of TSE:NXR.UN opened at C$8.22 on Monday. The company has a market capitalization of C$797.50 million, a PE ratio of 26.97 and a beta of 1.73. Nexus Industrial REIT has a 52-week low of C$5.98 and a 52-week high of C$8.88. 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 fifty day moving average of C$7.81 and a 200-day moving average of C$7.41.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be given a $0.0533 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 7.8%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 209.97%.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin acquired 3,372 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were acquired at an average cost of C$7.91 per share, for a total transaction of C$26,678.25. 32.92% of the stock is owned by corporate insiders.

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.