Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.32 Average PT from Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$8.32.

Several brokerages have weighed in on NXR.UN. Royal Bank of Canada decreased their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. National Bankshares cut shares of 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. Scotiabank lowered Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Raymond James cut 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 research note on Tuesday, March 11th. Finally, Desjardins decreased 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 research report on Tuesday, March 11th.

Insider Activity

In other news, Director Edwin E. Mclaughlin acquired 3,651 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of C$7.20 per share, for a total transaction of C$26,295.60. Over the last ninety days, insiders purchased 18,576 shares of company stock valued at $125,024. 32.92% of the stock is currently owned by insiders.

Nexus Industrial REIT Stock Down 0.4%

NXR.UN stock opened at C$7.35 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 has a 50 day simple moving average of C$6.84 and a 200-day simple moving average of C$7.35. The company has a market capitalization of C$519.94 million, a P/E ratio of 3.04 and a beta of 1.51. Nexus Industrial REIT has a twelve month low of C$5.98 and a twelve month high of C$9.15.

Nexus Industrial REIT Announces Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a $0.0533 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 8.70%. Nexus Industrial REIT’s payout ratio is currently 26.45%.

Nexus Industrial REIT Company Profile

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.