Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) Price Target at C$8.32

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$8.32.

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating on the stock in a research note on Tuesday, March 11th. Scotiabank lowered shares of Nexus Industrial REIT from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Desjardins decreased their price objective on shares of Nexus Industrial REIT from C$9.50 to C$8.75 and set a "buy" rating on the stock in a report on Tuesday, March 11th. National Bankshares cut shares of Nexus Industrial REIT from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from C$8.75 to C$6.75 in a research note on Monday, April 14th. Finally, Raymond James reduced their price target on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an "outperform" rating for the company in a research report on Tuesday, March 11th.

Insider Activity

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 8,000 shares of Nexus Industrial REIT stock in a transaction on Wednesday, April 9th. The shares were bought at an average price of C$6.49 per share, with a total value of C$51,934.40. Insiders bought a total of 18,576 shares of company stock worth $125,024 over the last 90 days. 32.92% of the stock is currently owned by corporate insiders.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN stock traded up C$0.16 during trading hours on Wednesday, hitting C$7.38. The company's stock had a trading volume of 133,565 shares, compared to its average volume of 193,782. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The company has a 50 day moving average of C$6.82 and a 200 day moving average of C$7.36. Nexus Industrial REIT has a 12-month low of C$5.98 and a 12-month high of C$9.15. The stock has a market cap of C$522.06 million, a PE ratio of 3.05 and a beta of 1.51.

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 dividend yield of 8.67%. Nexus Industrial REIT's payout ratio is currently 26.45%.

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.