Nexus Industrial REIT (TSE:NXR.UN) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) have earned an average rating of "Moderate Buy" from the six research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$8.32.

NXR.UN has been the subject of a number of research reports. Scotiabank cut shares of Nexus Industrial REIT from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Desjardins reduced their target price on shares of Nexus Industrial REIT from C$9.50 to C$8.75 and set a "buy" rating for the company 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 reduced their target price for the stock from C$8.75 to C$6.75 in a report on Monday, April 14th. Royal Bank of Canada reduced their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating for the company in a report on Tuesday, March 11th. Finally, Raymond James reduced their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an "outperform" rating for the company in a report on Tuesday, March 11th.

Insider Activity

In other news, Director Edwin E. Mclaughlin bought 8,000 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average price of C$6.49 per share, for a total transaction of C$51,934.40. In the last 90 days, insiders have acquired 14,925 shares of company stock worth $98,728. 32.92% of the stock is owned by corporate insiders.

Nexus Industrial REIT Price Performance

Shares of TSE:NXR.UN opened at C$7.18 on Wednesday. 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$507.91 million, a price-to-earnings ratio of 2.97 and a beta of 1.51. The stock's 50 day moving average price is C$6.82 and its 200 day moving average price is C$7.39. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.0533 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.91%. Nexus Industrial REIT's dividend 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.

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