Nexus Industrial REIT (TSE:NXR.UN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Nexus Industrial REIT (TSE:NXR.UN) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$8.81.

NXR.UN has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Monday, August 19th. Desjardins raised their target price on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a report on Friday, August 16th. Raymond James boosted their price target on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. National Bankshares raised Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Finally, Scotiabank boosted their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th.

Insider Activity at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 53,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of C$8.45 per share, with a total value of C$448,024.90. Insiders have bought a total of 56,782 shares of company stock worth $481,500 over the last quarter. Company insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Price Performance

Nexus Industrial REIT stock opened at C$8.75 on Tuesday. The firm has a market cap of C$618.98 million, a PE ratio of 3.68 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. The stock’s fifty day moving average price is C$8.29 and its two-hundred day moving average price is C$7.57. Nexus Industrial REIT has a one year low of C$6.08 and a one year high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.0533 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date of this dividend is Thursday, October 31st. Nexus Industrial REIT’s dividend payout ratio is currently 26.89%.

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.