Nexus Industrial REIT (TSE:NXR.UN) to Issue $0.05 Monthly Dividend

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Friday, August 30th, TickerTech reports. Investors of record on Monday, September 16th will be given a dividend of 0.0533 per share on Monday, September 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Friday, August 30th.

Nexus Industrial REIT Price Performance

Shares of NXR.UN traded down C$0.17 during midday trading on Wednesday, reaching C$8.40. The stock had a trading volume of 72,228 shares, compared to its average volume of 155,622. The firm’s 50 day moving average price is C$7.43 and its 200-day moving average price is C$7.40. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$8.61. The company has a market capitalization of C$594.22 million, a P/E ratio of 3.60 and a beta of 1.51. The company has a debt-to-equity ratio of 129.94, a current ratio of 0.44 and a quick ratio of 0.12.

Insiders Place Their Bets

In related news, Director Edwin E. Mclaughlin purchased 9,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of C$7.07 per share, for a total transaction of C$63,586.80. In other news, Director Edwin E. Mclaughlin bought 100,000 shares of Nexus Industrial REIT stock in a transaction dated Tuesday, June 25th. The shares were bought at an average price of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin bought 9,000 shares of Nexus Industrial REIT stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of C$7.07 per share, for a total transaction of C$63,586.80. Insiders acquired a total of 109,660 shares of company stock worth $748,011 over the last quarter. Company insiders own 32.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NXR.UN shares. BMO Capital Markets increased their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Monday, August 19th. Scotiabank upped their price target on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Royal Bank of Canada increased their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. CIBC lowered their price target on shares of 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, Raymond James boosted their target price on Nexus Industrial REIT from C$8.50 to C$9.25 and gave the company an “outperform” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$8.78.

Nexus Industrial REIT Company Profile

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.