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

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

Other analysts have also recently issued research reports about the stock. Raymond James boosted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.25 and gave the stock an outperform rating in a research note on Friday. Desjardins dropped their target price on Nexus Industrial REIT from C$9.00 to C$8.75 and set a buy rating for the company in a research report on Thursday, May 16th. National Bankshares upgraded Nexus Industrial REIT from a sector perform rating to an outperform rating and boosted their price target for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. TD Securities lowered their price objective on Nexus Industrial REIT from C$8.00 to C$7.50 in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada cut their target price on shares of Nexus Industrial REIT from C$8.50 to C$8.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Nexus Industrial REIT currently has a consensus rating of Moderate Buy and an average target price of C$8.72.

Nexus Industrial REIT Trading Up 2.1 %

NXR.UN opened at C$7.83 on Friday. The company’s 50 day moving average is C$7.25 and its 200-day moving average is C$7.40. The company has a market cap of C$553.89 million, a P/E ratio of 2.69 and a beta of 1.51. Nexus Industrial REIT has a 1-year low of C$6.08 and a 1-year high of C$8.60. The company has a current ratio of 0.45, a quick ratio of 0.12 and a debt-to-equity ratio of 133.88.

Nexus Industrial REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be given 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 presently 21.99%.

Insider Activity

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