Nexus Industrial REIT (TSE:NXR.UN) PT Lowered to C$9.00 at Raymond James

Nexus Industrial REIT (TSE:NXR.UN) had its target price trimmed by Raymond James from C$9.75 to C$9.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on NXR.UN. Laurentian set a C$10.00 target price on shares of Nexus Industrial REIT and gave the stock a buy rating in a research note on Monday, January 22nd. BMO Capital Markets reduced their target price on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research note on Monday, March 25th. National Bankshares reduced their target price on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a sector perform rating for the company in a research note on Wednesday. TD Securities reduced their target price on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a sector perform rating for the company in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nexus Industrial REIT has a consensus rating of Hold and a consensus target price of C$8.61.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN opened at C$7.06 on Wednesday. The firm has a market cap of C$485.45 million, a PE ratio of 3.03 and a beta of 1.45. The company has a current ratio of 0.36, a quick ratio of 0.12 and a debt-to-equity ratio of 139.77. Nexus Industrial REIT has a 1-year low of C$6.08 and a 1-year high of C$9.97. The company has a fifty day moving average price of C$7.55 and a 200 day moving average price of C$7.59.

Nexus Industrial REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.0533 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.06%. Nexus Industrial REIT’s payout ratio is 27.47%.

Nexus Industrial REIT Company Profile

Nexus 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 located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.