Nexus Industrial REIT (TSE:NXR.UN - Free Report) had its price objective cut by CIBC from C$9.50 to C$8.50 in a report published on Thursday,BayStreet.CA reports.
NXR.UN has been the topic of a number of other reports. National Bankshares upped their price objective on Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a "sector perform" rating in a research report on Thursday. Scotiabank upped their price objective on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the company a "sector perform" rating in a research report on Wednesday. Desjardins decreased their price objective on Nexus Industrial REIT from C$9.50 to C$8.75 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada decreased their price objective on Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating on the stock in a research report on Tuesday, March 11th. Finally, Raymond James upped their price objective on Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of C$8.32.
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Nexus Industrial REIT Price Performance
Shares of TSE NXR.UN traded down C$0.04 during mid-day trading on Thursday, reaching C$7.07. The company's stock had a trading volume of 40,928 shares, compared to its average volume of 190,697. The firm has a market capitalization of C$500.13 million, a PE ratio of 2.92 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 has a fifty day moving average of C$6.85 and a two-hundred day moving average of C$7.33. Nexus Industrial REIT has a 52 week low of C$5.98 and a 52 week high of C$9.15.
Nexus Industrial REIT Announces Dividend
The business also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were given a dividend of $0.0533 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.64 annualized dividend and a yield of 9.05%. Nexus Industrial REIT's dividend payout ratio (DPR) is presently 26.45%.
Insider Transactions at Nexus Industrial REIT
In related news, Director Edwin E. Mclaughlin acquired 8,000 shares of Nexus Industrial REIT stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of C$6.49 per share, for a total transaction of C$51,934.40. Insiders acquired 18,576 shares of company stock valued at $125,024 in the last quarter. 32.92% of the stock is currently owned by corporate insiders.
About Nexus Industrial REIT
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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.
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