Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) Price Target at C$8.18

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$8.18.

NXR.UN has been the subject of a number of recent analyst reports. CIBC cut Nexus Industrial REIT from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from C$8.50 to C$7.50 in a report on Wednesday. Royal Bank of Canada decreased their target price on Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating for the company in a research report on Tuesday, March 11th. National Bankshares lifted their target price 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, May 22nd. Scotiabank lifted their target price 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, May 21st. Finally, Raymond James lifted their target price 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, May 22nd.

Nexus Industrial REIT Trading Down 1.1%

NXR.UN traded down C$0.08 during trading hours on Wednesday, reaching C$7.38. 112,270 shares of the company's stock traded hands, compared to its average volume of 184,308. The firm has a 50-day moving average price of C$7.00 and a 200 day moving average price of C$7.26. 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 quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The firm has a market capitalization of C$522.06 million, a PE ratio of 3.05 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.0533 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.64 annualized dividend and a yield of 8.67%. Nexus Industrial REIT's payout ratio is presently 26.45%.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Daniel Martin Oberste bought 5,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of C$7.54 per share, for a total transaction of C$37,675.00. Also, Director Edwin E. Mclaughlin bought 3,651 shares of the stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of C$7.20 per share, for a total transaction of C$26,295.60. In the last 90 days, insiders have bought 20,347 shares of company stock worth $140,322. 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.