Nexus Industrial REIT (TSE:NXR.UN) Given New C$9.00 Price Target at Raymond James

Nexus Industrial REIT (TSE:NXR.UN) had its target price cut by Raymond James from C$9.75 to C$9.00 in a research note released on Monday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets increased their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. CIBC upped their target price on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Nexus Industrial REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$8.86.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN opened at C$7.52 on Monday. 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 company has a market capitalization of C$531.96 million, a P/E ratio of 3.11 and a beta of 1.51. Nexus Industrial REIT has a 12 month low of C$6.47 and a 12 month high of C$9.15. The stock has a 50 day moving average of C$7.89 and a 200-day moving average of C$8.02.

Nexus Industrial REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 14th will be given a dividend of $0.0533 per share. The ex-dividend date is Friday, January 31st. This represents a $0.64 annualized dividend and a dividend yield of 8.51%. Nexus Industrial REIT’s dividend payout ratio is 26.45%.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin bought 50,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were purchased at an average price of C$7.88 per share, with a total value of C$393,845.00. In the last quarter, insiders have acquired 55,708 shares of company stock valued at $438,844. 32.92% of the stock is currently owned by corporate insiders.

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.