Nexus Industrial REIT (TSE:NXR.UN) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Nexus Industrial REIT has been assigned a consensus rating of "Hold" by six brokerages, with four rating it as a hold and two giving it a buy rating, and an average 12-month price target of C$8.18.
• The company declared a monthly dividend of $0.0533 with a dividend yield of 8.26%, and it will be paid to stockholders of record on August 15th.
• Insider buying activity was noted, with two directors acquiring shares at average prices of C$7.20 and C$7.54, reflecting confidence in the company's future prospects.

Shares of Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six analysts that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$8.18.

Several equities research analysts have recently weighed in on the stock. 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 research report on Wednesday, June 11th. Scotiabank boosted their price objective on shares of Nexus Industrial REIT from C$7.00 to C$7.50 and gave the stock a "sector perform" rating in a research note on Wednesday, May 21st. Raymond James Financial boosted their price objective on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, National Bankshares boosted their price objective on shares of Nexus Industrial REIT from C$6.75 to C$7.25 and gave the stock a "sector perform" rating in a research note on Thursday, May 22nd.

Nexus Industrial REIT Trading Up 0.1%

Nexus Industrial REIT stock traded up C$0.01 during trading hours on Thursday, hitting C$7.60. The company had a trading volume of 166,883 shares, compared to its average volume of 175,621. The firm has a market cap of C$537.62 million, a P/E ratio of 3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. Nexus Industrial REIT has a 1 year low of C$5.98 and a 1 year high of C$9.15. The company has a 50-day moving average price of C$7.58 and a two-hundred day moving average price of C$7.24.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be paid a $0.0533 dividend. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, July 31st. Nexus Industrial REIT's dividend payout ratio (DPR) is currently 26.45%.

Insider Activity

In other news, Director Edwin E. Mclaughlin bought 3,651 shares of Nexus Industrial REIT stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of C$7.20 per share, with a total value of C$26,295.60. Also, Director Daniel Martin Oberste bought 5,000 shares of Nexus Industrial REIT stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of C$7.54 per share, for a total transaction of C$37,675.00. Over the last three months, insiders bought 15,571 shares of company stock worth $117,134. Insiders own 32.92% of the company's stock.

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.