Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.34 Consensus Price Target from Brokerages

Key Points

• Nexus Industrial REIT has received a consensus rating of "Hold" from seven brokerages, with five holding and two buying recommendations.
• The average target price set by analysts for Nexus Industrial REIT is C$8.34, with various price adjustments made by brokerages recently.
• The company announced a monthly dividend of $0.0533 per share, resulting in an annualized yield of 8.0% for shareholders of record.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$8.34.

Several research firms have issued reports on NXR.UN. TD Securities upped their target price on shares of Nexus Industrial REIT from C$7.00 to C$8.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Scotiabank upped their price target on shares of 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. Raymond James Financial upped their price target on shares of 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. CIBC upped their price target on shares of Nexus Industrial REIT from C$7.50 to C$8.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Finally, National Bankshares reduced their price target on shares of Nexus Industrial REIT from C$8.50 to C$8.25 and set a "sector perform" rating for the company in a research report on Wednesday, August 13th.

Nexus Industrial REIT Stock Performance

NXR.UN traded down C$0.02 during midday trading on Monday, hitting C$7.85. 98,651 shares of the company traded hands, compared to its average volume of 166,876. 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$761.60 million, a PE ratio of 25.76 and a beta of 1.89. The company's 50-day moving average is C$7.77 and its 200 day moving average is C$7.30. Nexus Industrial REIT has a 52 week low of C$5.98 and a 52 week high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be issued a $0.0533 dividend. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Friday, August 29th. Nexus Industrial REIT's dividend payout ratio is currently 209.97%.

Insider Activity at Nexus Industrial REIT

In other news, Director Daniel Martin Oberste bought 5,000 shares of Nexus Industrial REIT stock in a transaction that occurred on Wednesday, June 11th. The stock was bought 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 3,372 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was acquired at an average price of C$7.91 per share, with a total value of C$26,678.25. Insiders purchased a total of 11,920 shares of company stock valued at $90,838 over the last three months. 32.92% of the stock is currently owned by insiders.

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.