Nexus Industrial REIT (TSE:NXR.UN) Announces $0.05 Monthly Dividend

Key Points

• Nexus Industrial REIT has declared a monthly dividend of C$0.05 per share, with a projected annual dividend of C$0.64, yielding 8.16%.
• Recent analyst ratings have seen CIBC downgrade the stock to "neutral" and adjust its target price to C$7.50, while Scotiabank and National Bankshares have raised their price targets to C$7.50 and C$7.25, respectively.
• Insider purchases have occurred, with two directors acquiring over 8,000 shares, indicating continued confidence in the company, which is 32.92% owned by insiders.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) declared a monthly dividend on Thursday, July 31st, TickerTech Dividends reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.0533 per share on Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, July 31st.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN traded up C$0.01 during midday trading on Friday, hitting C$7.60. 166,883 shares of the stock traded hands, compared to its average volume of 175,621. The firm has a 50-day moving average of C$7.58 and a two-hundred day moving average of C$7.24. The firm has a market capitalization of C$537.62 million, a P/E ratio of 3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. Nexus Industrial REIT has a one year low of C$5.98 and a one year high of C$9.15.

Insider Buying and Selling

In other Nexus Industrial REIT news, Director Daniel Martin Oberste purchased 5,000 shares of Nexus Industrial REIT stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of C$7.54 per share, with a total value of C$37,675.00. Also, Director Edwin E. Mclaughlin purchased 3,651 shares of Nexus Industrial REIT stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of C$7.20 per share, for a total transaction of C$26,295.60. Insiders purchased 15,571 shares of company stock valued at $117,134 in the last three months. 32.92% of the stock is currently owned by insiders.

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.