Insider Buying: Nexus Industrial REIT (TSE:NXR.UN) Director Purchases 100,000 Shares of Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin bought 100,000 shares of Nexus Industrial REIT stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of C$6.80 per share, with a total value of C$679,850.00.

Nexus Industrial REIT Price Performance

NXR.UN opened at C$6.85 on Friday. Nexus Industrial REIT has a 52-week low of C$6.08 and a 52-week high of C$8.69. The company has a 50 day moving average of C$7.05 and a two-hundred day moving average of C$7.59. The company has a market cap of C$471.90 million, a P/E ratio of 2.94 and a beta of 1.46. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77.

Nexus Industrial REIT Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th were issued a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a yield of 9.34%. The ex-dividend date of this dividend was Monday, April 29th. Nexus Industrial REIT’s payout ratio is 27.47%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NXR.UN. CIBC dropped their price target on Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating on the stock in a research report on Thursday, May 16th. National Bankshares cut their price target on 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, April 24th. Desjardins lowered their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “buy” rating on the stock in a research report on Thursday, May 16th. BMO Capital Markets dropped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research note on Monday, March 25th. Finally, Raymond James reduced their target price 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 Thursday, May 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$8.42.

About Nexus Industrial REIT

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.