Scotiabank Boosts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its target price increased by Scotiabank from C$8.50 to C$9.00 in a research report report published on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the stock. CIBC dropped their target price on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an outperform rating on the stock in a research report on Thursday, May 16th. Desjardins dropped their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a buy rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada cut their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 and set a sector perform rating for the company in a research report on Thursday, May 16th. TD Securities decreased their target price on Nexus Industrial REIT from C$8.00 to C$7.50 in a research report on Wednesday, April 24th. Finally, National Bankshares raised Nexus Industrial REIT from a sector perform rating to an outperform rating and upped their price target for the company from C$7.50 to C$8.00 in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$8.72.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN opened at C$7.83 on Friday. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$8.60. The company has a market cap of C$553.89 million, a P/E ratio of 2.69 and a beta of 1.51. The business’s 50 day moving average is C$7.25 and its two-hundred day moving average is C$7.40. The company has a quick ratio of 0.12, a current ratio of 0.45 and a debt-to-equity ratio of 133.88.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date is Friday, August 30th. Nexus Industrial REIT’s dividend payout ratio is 21.99%.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were acquired at an average price of C$6.80 per share, with a total value of C$679,850.00. In other news, Director Edwin E. Mclaughlin bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average price of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin purchased 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of C$7.07 per share, with a total value of C$63,586.80. Over the last ninety days, insiders have purchased 111,160 shares of company stock valued at $758,691. 32.95% of the stock is currently owned by corporate insiders.

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.