Nexus Industrial REIT (TSE:NXR.UN) Receives Average Rating of “Moderate Buy” from Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$8.92.

NXR.UN has been the topic of a number of recent research reports. Raymond James upped their target price on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. BMO Capital Markets raised their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. CIBC boosted their price target on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Desjardins raised 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 report on Friday, August 16th. Finally, Royal Bank of Canada boosted their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th.

Insider Activity at Nexus Industrial REIT

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

Nexus Industrial REIT Price Performance

Shares of NXR.UN stock opened at C$8.09 on Wednesday. The business’s fifty day moving average is C$8.59 and its 200 day moving average is C$7.82. 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$572.29 million, a price-to-earnings ratio of 3.34 and a beta of 1.51. Nexus Industrial REIT has a twelve month low of C$6.47 and a twelve month high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be paid a $0.0533 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.91%. The ex-dividend date of this dividend is Friday, November 29th. Nexus Industrial REIT’s dividend payout ratio is currently 26.45%.

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.