Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) PT at C$8.92

Nexus Industrial REIT (TSE:NXR.UN) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$8.92.

NXR.UN has been the topic of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. CIBC upped their price target on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Finally, Raymond James increased their price target on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th.

Insider Activity

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 57,120 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was purchased at an average cost of C$8.76 per share, with a total value of C$500,296.94. Insiders bought a total of 116,672 shares of company stock worth $972,709 over the last quarter. 32.92% of the stock is currently owned by corporate insiders.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN stock opened at C$7.75 on Friday. The stock has a market capitalization of C$548.24 million, a PE ratio of 3.20 and a beta of 1.51. The business’s 50 day simple moving average is C$8.23 and its 200 day simple moving average is C$7.92. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 13th were paid a $0.0533 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 8.25%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 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.