Nexus Industrial REIT (TSE:NXR.UN) Shares Down 2.1% - Here's What Happened

Key Points

• Nexus Industrial REIT shares fell by 2.1%, closing at C$7.74 after trading as low as C$7.73, with a significant increase in trading volume at approximately 510,062 shares compared to the average of 160,317.
• Analysts have varied price targets for Nexus Industrial REIT, with National Bankshares lowering their target to C$8.25, while Desjardins raised it to C$9.00, maintaining an average target price of C$8.38.
• The company declared a monthly dividend of $0.0533, representing an annualized dividend yield of 8.3%, set to be paid on November 14th, with an ex-dividend date of October 31st.

Shares of Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) were down 2.1% during mid-day trading on Friday . The stock traded as low as C$7.73 and last traded at C$7.74. Approximately 510,062 shares traded hands during mid-day trading, an increase of 218% from the average daily volume of 160,317 shares. The stock had previously closed at C$7.91.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NXR.UN shares. National Bankshares decreased 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 report on Wednesday, August 13th. TD Securities boosted their price objective on shares of Nexus Industrial REIT from C$7.00 to C$8.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. CIBC boosted their price objective 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, Desjardins boosted their price objective on shares of Nexus Industrial REIT from C$8.75 to C$9.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of C$8.38.

Nexus Industrial REIT Trading Down 2.1%

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$750.92 million, a P/E ratio of 25.40 and a beta of 1.73. The firm has a 50 day moving average of C$7.82 and a 200-day moving average of C$7.43.

Nexus Industrial REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be paid a $0.0533 dividend. This represents a c) annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Friday, October 31st. Nexus Industrial REIT's payout ratio is 209.97%.

Insider Activity

In related news, Director Edwin E. Mclaughlin purchased 3,372 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was acquired at an average cost of C$7.91 per share, for a total transaction of C$26,678.25. Company 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.

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