Nexus Industrial REIT (TSE:NXR.UN) Plans $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. Investors of record on Friday, August 15th will be paid a dividend of 0.0533 per share on Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Thursday, July 31st.

Nexus Industrial REIT Trading Up 0.1%

Nexus Industrial REIT stock traded up C$0.01 during trading on Friday, reaching C$7.60. 166,883 shares of the company were exchanged, compared to its average volume of 175,621. Nexus Industrial REIT has a 52-week low of C$5.98 and a 52-week high of C$9.15. The company has a market capitalization of C$537.62 million, a P/E ratio of 3.14 and a beta of 1.51. The stock's 50 day simple moving average is C$7.57 and its two-hundred day simple moving average is C$7.24. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank boosted their price target on shares of Nexus Industrial REIT from C$7.00 to C$7.50 and gave the stock a "sector perform" rating in a report on Wednesday, May 21st. CIBC cut shares of Nexus Industrial REIT from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from C$8.50 to C$7.50 in a report on Wednesday, June 11th. National Bankshares lifted their price target on Nexus Industrial REIT from C$6.75 to C$7.25 and gave the stock a "sector perform" rating in a report on Thursday, May 22nd. Finally, Raymond James Financial lifted their price target on Nexus Industrial REIT from C$8.25 to C$8.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$8.18.

About Nexus Industrial REIT

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.