Raymond James Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its target price lowered by Raymond James from C$9.75 to C$9.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on the stock. CIBC lifted their price target on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. BMO Capital Markets upped their price target on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Nexus Industrial REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.86.

Nexus Industrial REIT Trading Up 0.4 %

TSE NXR.UN opened at C$7.53 on Monday. Nexus Industrial REIT has a twelve month low of C$6.47 and a twelve month high of C$9.15. The business’s fifty day moving average is C$7.84 and its 200 day moving average is C$8.03. 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 company has a market cap of C$532.67 million, a price-to-earnings ratio of 3.11 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 14th will be paid a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 8.49%. The ex-dividend date of this dividend is Friday, January 31st. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 26.45%.

Insider Activity

In other news, Director Edwin E. Mclaughlin acquired 50,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was bought at an average cost of C$7.88 per share, with a total value of C$393,845.00. Insiders have purchased a total of 55,708 shares of company stock worth $438,844 over the last quarter. Insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Company Profile

Nexus Industrial REIT 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.