Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.92 Consensus Price Target from Analysts

Shares of Nexus Industrial REIT (TSE:NXR.UN) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$8.92.

A number of research analysts have recently commented on NXR.UN shares. BMO Capital Markets lifted 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. Raymond James lifted their price target on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Desjardins upped their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research note on Friday, August 16th. Scotiabank lifted their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada increased their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th.

Nexus Industrial REIT Stock Performance

TSE NXR.UN opened at C$7.96 on Wednesday. The company has a market cap of C$563.09 million, a PE ratio of 3.25 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$8.53 and a 200-day moving average of C$7.84. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 13th will be paid a $0.0533 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 8.04%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 26.45%.

Insider Buying and Selling at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 57,120 shares of the business’s stock in a transaction on Friday, October 4th. The stock was purchased at an average price of C$8.76 per share, with a total value of C$500,296.94. Insiders have bought a total of 118,991 shares of company stock valued at $1,023,523 in the last ninety days. 32.92% of the stock is currently owned by corporate insiders.

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.