Nexus Industrial REIT (TSE:NXR.UN) Rating Lowered to “Sector Perform” at National Bankshares

National Bankshares downgraded shares of Nexus Industrial REIT (TSE:NXR.UN) from an outperform rating to a sector perform rating in a report released on Monday,BayStreet.CA reports. The firm currently has C$6.75 target price on the stock, down from their previous target price of C$8.75.

NXR.UN has been the topic of several other reports. Scotiabank downgraded shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$8.50 to C$7.00 in a research report on Tuesday, April 8th. Desjardins reduced their target price on Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating for the company in a report on Tuesday, March 11th. Raymond James lowered their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Royal Bank of Canada decreased their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$8.22.

Nexus Industrial REIT Price Performance

TSE NXR.UN opened at C$6.47 on Monday. The company has a 50 day moving average price of C$7.02 and a two-hundred day moving average price of C$7.66. Nexus Industrial REIT has a 12-month low of C$5.98 and a 12-month high of C$9.15. The stock has a market capitalization of C$457.69 million, a PE ratio of 2.67 and a beta of 1.51. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a $0.0533 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.64 annualized dividend and a dividend yield of 9.89%. Nexus Industrial REIT’s payout ratio is 26.45%.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of C$6.49 per share, for a total transaction of C$51,934.40. 32.92% of the stock is currently owned by 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.