Edwin E. Mclaughlin Acquires 53,000 Shares of Nexus Industrial REIT (TSE:NXR.UN) Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin purchased 53,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of C$8.45 per share, for a total transaction of C$448,024.90.

Nexus Industrial REIT Stock Performance

Nexus Industrial REIT stock opened at C$8.47 on Thursday. The firm has a market capitalization of C$599.17 million, a PE ratio of 3.56 and a beta of 1.51. Nexus Industrial REIT has a one year low of C$6.08 and a one year high of C$8.61. The stock’s 50 day moving average price is C$7.63 and its 200 day moving average price is C$7.42. The company has a debt-to-equity ratio of 129.94, a quick ratio of 0.12 and a current ratio of 0.44.

Nexus Industrial REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a dividend of $0.0533 per share. The ex-dividend date is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.55%. Nexus Industrial REIT’s payout ratio is currently 26.89%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NXR.UN shares. Desjardins upped their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a report on Friday, August 16th. National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price objective on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. BMO Capital Markets increased their target price on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Monday, August 19th. Finally, Raymond James lifted their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.25 and gave the company an “outperform” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$8.78.

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.