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

Nexus Industrial REIT (TSE:NXR.UN) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$8.92.

A number of equities research analysts recently commented on NXR.UN shares. CIBC increased their price target on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Raymond James raised their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. BMO Capital Markets upped their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Scotiabank raised their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Desjardins upped their target price on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research report on Friday, August 16th.

Nexus Industrial REIT Price Performance

Shares of NXR.UN stock opened at C$7.96 on Wednesday. The stock’s fifty day simple moving average is C$8.53 and its 200 day simple moving average is C$7.84. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The firm has a market cap of C$563.09 million, a price-to-earnings ratio of 3.25 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Nexus Industrial REIT Dividend Announcement

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

Insider Activity at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin bought 57,120 shares of the stock in a transaction on Friday, October 4th. The stock was purchased at an average price of C$8.76 per share, for a total transaction of C$500,296.94. In the last three months, insiders acquired 118,991 shares of company stock worth $1,023,523. 32.92% of the stock is owned by company 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.