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)'s stock price was down 0.4% on Wednesday . The stock traded as low as C$7.81 and last traded at C$7.81. Approximately 76,859 shares changed hands during trading, a decline of 53% from the average daily volume of 163,820 shares. The stock had previously closed at C$7.84.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NXR.UN. Raymond James Financial boosted their price target on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. TD Securities boosted their target price on Nexus Industrial REIT from C$7.00 to C$8.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. National Bankshares reduced their target price on 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. CIBC boosted their price objective on Nexus Industrial REIT from C$7.50 to C$8.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Finally, Scotiabank boosted their price objective on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the company a "sector perform" rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$8.34.

Nexus Industrial REIT Trading Down 0.4%

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 capitalization of C$757.72 million, a price-to-earnings ratio of 25.63 and a beta of 1.90. The firm has a fifty day moving average of C$7.80 and a 200-day moving average of C$7.34.

Nexus Industrial REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.0533 per share. The ex-dividend date is Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 8.2%. Nexus Industrial REIT's dividend payout ratio (DPR) is currently 209.97%.

Insider Buying and Selling at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 3,372 shares of the stock in a transaction dated Tuesday, July 15th. The stock was bought at an average cost of C$7.91 per share, for a total transaction of C$26,678.25. 32.92% of the stock is owned by corporate 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.

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