Nexus Industrial REIT (TSE:NXR.UN – Free Report) had its price target increased by BMO Capital Markets from C$8.50 to C$9.00 in a report issued on Monday, BayStreet.CA reports.
NXR.UN has been the subject of several other reports. Desjardins lifted their price objective on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. Scotiabank raised their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada boosted their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. National Bankshares raised Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Finally, Raymond James boosted their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$8.86.
Read Our Latest Report on Nexus Industrial REIT
Nexus Industrial REIT Stock Performance
Nexus Industrial REIT Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.0533 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.78%. The ex-dividend date of this dividend is Thursday, October 31st. Nexus Industrial REIT’s payout ratio is 26.45%.
Insider Buying and Selling at Nexus Industrial REIT
In related news, 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, with a total value of C$448,024.90. In other news, Director Edwin E. Mclaughlin bought 57,120 shares of the business’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. Also, Director Edwin E. Mclaughlin bought 53,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of C$8.45 per share, with a total value of C$448,024.90. In the last ninety days, insiders acquired 115,746 shares of company stock worth $997,785. Company insiders own 32.92% of the company’s stock.
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.
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