Nexus Industrial REIT (TSE:NXR.UN) Stock Price Down 0.4% - Here's What Happened

Key Points

• Nexus Industrial REIT's stock price fell by 0.4% to C$7.81, with trading volume significantly lower at 76,859 shares, a decline of 53% from its average daily volume.
• Brokerages have mixed outlooks; Raymond James raised its price target to C$8.50 and assigned an "outperform" rating, while National Bank reduced its target to C$8.25, indicating a consensus rating of "Hold" among analysts.
• The company announced a monthly dividend of $0.0533 per share, leading to an annualized yield of 8.2%, although its dividend payout ratio is notably high at 209.97%.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) shares fell 0.4% during mid-day trading on Wednesday . The stock traded as low as C$7.81 and last traded at C$7.81. 76,859 shares traded hands during trading, a decline of 53% from the average session volume of 163,820 shares. The stock had previously closed at C$7.84.

Analyst Upgrades and Downgrades

NXR.UN has been the topic of several recent analyst reports. TD Securities boosted their target price on Nexus Industrial REIT from C$7.00 to C$8.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. National Bankshares dropped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.25 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Finally, CIBC lifted their price objective on shares of Nexus Industrial REIT from C$7.50 to C$8.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$8.34.

Nexus Industrial REIT Stock Up 0.1%

The stock's fifty day simple moving average is C$7.80 and its 200-day simple moving average is C$7.35. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The stock has a market cap of C$760.63 million, a P/E ratio of 25.72 and a beta of 1.90.

Nexus Industrial REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be issued a $0.0533 dividend. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Monday, September 29th. Nexus Industrial REIT's dividend payout ratio (DPR) is presently 209.97%.

Insider Buying and Selling at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 3,372 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were bought at an average cost of C$7.91 per share, with a total value of C$26,678.25. 32.92% of the stock is 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.