Insider Buying: Nexus Industrial REIT (TSE:NXR.UN) Director Buys 2,000 Shares of Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Kelly Clark Hanczyk acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of C$8.79 per share, with a total value of C$17,580.00.

Nexus Industrial REIT Price Performance

TSE:NXR.UN opened at C$8.76 on Thursday. The stock has a market cap of C$619.68 million, a PE ratio of 3.67 and a beta of 1.51. 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 business’s 50-day simple moving average is C$8.24 and its two-hundred day simple moving average is C$7.55. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be issued a $0.0533 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.64 dividend on an annualized basis and a yield of 7.30%. Nexus Industrial REIT’s dividend payout ratio is presently 26.89%.

Analyst Ratings Changes

NXR.UN has been the subject of a number of research reports. National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Royal Bank of Canada upped their target price on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Scotiabank increased their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Raymond James boosted their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. Finally, BMO Capital Markets raised their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.81.

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.