Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.32 Consensus Target Price from Analysts

Nexus Industrial REIT (TSE:NXR.UN) has earned an average rating of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$8.32.

Several research analysts have commented on the stock. Raymond James dropped their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Scotiabank cut shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$8.50 to C$7.00 in a research note on Tuesday, April 8th. Royal Bank of Canada cut their price target on shares of 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. National Bankshares downgraded shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$8.75 to C$6.75 in a research note on Monday, April 14th. Finally, Desjardins dropped 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 purchased 3,651 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were acquired at an average price of C$7.20 per share, for a total transaction of C$26,295.60. Insiders have purchased a total of 18,576 shares of company stock worth $125,024 over the last 90 days. 32.92% of the stock is currently owned by corporate insiders.

Nexus Industrial REIT Stock Up 2.2%

NXR.UN opened at C$7.38 on Wednesday. The company has a market capitalization of C$522.06 million, a PE ratio of 3.05 and a beta of 1.51. The firm has a 50-day simple moving average of C$6.82 and a two-hundred day simple moving average of C$7.36. 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.

Nexus Industrial REIT Dividend Announcement

The firm also recently announced 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. This represents a $0.64 annualized dividend and a yield of 8.67%. The ex-dividend date was Wednesday, April 30th. Nexus Industrial REIT’s dividend payout ratio is currently 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.