Desjardins Raises Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.25

Nexus Industrial REIT (TSE:NXR.UN) had its target price increased by Desjardins from C$8.75 to C$9.25 in a report published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on NXR.UN. Scotiabank upped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an outperform rating in a research note on Friday. Royal Bank of Canada cut their price target on Nexus Industrial REIT from C$8.50 to C$8.00 and set a sector perform rating for the company in a report on Thursday, May 16th. Raymond James boosted their price objective on Nexus Industrial REIT from C$8.50 to C$9.25 and gave the stock an outperform rating in a research note on Friday. CIBC reduced their price target on Nexus Industrial REIT from C$9.75 to C$9.00 and set an outperform rating on the stock in a report on Thursday, May 16th. Finally, National Bankshares raised shares of Nexus Industrial REIT from a sector perform rating to an outperform rating and boosted their price target for the company from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of C$8.72.

Nexus Industrial REIT Trading Up 2.1 %

Shares of NXR.UN stock opened at C$7.83 on Friday. Nexus Industrial REIT has a fifty-two week low of C$6.08 and a fifty-two week high of C$8.60. The company has a debt-to-equity ratio of 133.88, a quick ratio of 0.12 and a current ratio of 0.45. The stock’s fifty day moving average is C$7.25 and its two-hundred day moving average is C$7.40. The firm has a market capitalization of C$553.89 million, a P/E ratio of 2.69 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a $0.0533 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 8.17%. Nexus Industrial REIT’s dividend payout ratio (DPR) is currently 21.99%.

Insiders Place Their Bets

In related news, Director Edwin E. Mclaughlin purchased 100,000 shares of Nexus Industrial REIT stock in a transaction dated Tuesday, June 25th. The shares were acquired at an average cost of C$6.80 per share, with a total value of C$679,850.00. In other news, Director Edwin E. Mclaughlin purchased 100,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin acquired 9,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of C$7.07 per share, with a total value of C$63,586.80. Insiders purchased a total of 111,160 shares of company stock valued at $758,691 over the last 90 days. 32.95% of the stock is owned by company insiders.

About Nexus Industrial REIT

Nexus 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 located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.