Nexus Industrial REIT (TSE:NXR.UN) Sets New 1-Year High at $9.10

Nexus Industrial REIT (TSE:NXR.UN)’s share price hit a new 52-week high on Monday . The stock traded as high as C$9.10 and last traded at C$8.98, with a volume of 10919 shares changing hands. The stock had previously closed at C$8.98.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Raymond James raised their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. Scotiabank upped their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada raised their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Desjardins upped their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.81.

Nexus Industrial REIT Stock Performance

The company’s 50-day moving average price is C$7.88 and its two-hundred day moving average price is C$7.45. The company has a market cap of C$632.42 million, a P/E ratio of 3.77 and a beta of 1.51. 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 business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a $0.0533 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date is Friday, August 30th. Nexus Industrial REIT’s payout ratio is 26.89%.

Insider Activity

In other news, Director Edwin E. Mclaughlin bought 100,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was bought at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 53,000 shares of the stock in a transaction on Thursday, August 29th. The shares were bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Also, Director Edwin E. Mclaughlin purchased 100,000 shares of Nexus Industrial REIT stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of C$6.80 per share, with a total value of C$679,850.00. 32.92% of the stock is currently owned by company 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.