Nexus Industrial REIT (TSE:NXR.UN) Trading Down 0.5% - Here's Why

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) shares traded down 0.5% during mid-day trading on Wednesday . The company traded as low as C$7.30 and last traded at C$7.32. 86,083 shares traded hands during trading, a decline of 55% from the average session volume of 190,637 shares. The stock had previously closed at C$7.36.

Analyst Upgrades and Downgrades

NXR.UN has been the topic of a number of analyst reports. Royal Bank of Canada dropped their target price on Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating on the stock in a research report on Tuesday, March 11th. Scotiabank raised 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. CIBC cut their target price on Nexus Industrial REIT from C$9.50 to C$8.50 in a research report on Thursday, May 22nd. Raymond James increased their target price on Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, National Bankshares lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexus Industrial REIT has an average rating of "Hold" and a consensus target price of C$8.32.

Nexus Industrial REIT Stock Up 1.9%

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's 50 day simple moving average is C$6.91 and its 200 day simple moving average is C$7.29. The company has a market cap of C$527.01 million, a price-to-earnings ratio of 3.08 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 15th were given a $0.0533 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 8.59%. Nexus Industrial REIT's dividend payout ratio is presently 26.45%.

Insider Transactions at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin acquired 3,651 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was acquired at an average price of C$7.20 per share, for a total transaction of C$26,295.60. In the last three months, insiders purchased 18,576 shares of company stock valued at $125,024. Company insiders own 32.92% of the company's stock.

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.