Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$9.50

Nexus Industrial REIT (TSE:NXR.UN) had its price target hoisted by CIBC from C$9.00 to C$9.50 in a report published on Wednesday,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on NXR.UN. National Bankshares upgraded shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$7.50 to C$8.00 in a research report on Thursday, July 18th. BMO Capital Markets upped their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Raymond James raised their price objective on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Desjardins upped their target price 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. Finally, Scotiabank increased their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$8.92.

Nexus Industrial REIT Stock Performance

Nexus Industrial REIT stock opened at C$8.00 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The stock has a market cap of C$565.92 million, a PE ratio of 3.31 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 business’s 50-day moving average price is C$8.60 and its two-hundred day moving average price is C$7.80.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be given a dividend of $0.0533 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.00%. Nexus Industrial REIT’s dividend payout ratio (DPR) is 26.45%.

Insider Activity at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 53,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. Insiders have purchased 116,586 shares of company stock worth $1,004,387 over the last ninety days. Insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Company Profile

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.