Nexus Industrial REIT (TSE:NXR.UN) Sets New 52-Week High at $8.63

Nexus Industrial REIT (TSE:NXR.UN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$8.63 and last traded at C$8.62, with a volume of 98799 shares trading hands. The stock had previously closed at C$8.49.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James boosted their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday. Scotiabank boosted their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Royal Bank of Canada boosted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Finally, CIBC lowered 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and an average target price of C$8.81.

Nexus Industrial REIT Price Performance

The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The company has a market cap of C$613.32 million, a PE ratio of 3.57 and a beta of 1.51. The stock has a fifty day moving average price of C$7.73 and a 200-day moving average price of C$7.43.

Nexus Industrial REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.0533 per share. The ex-dividend date is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 7.38%. Nexus Industrial REIT’s dividend payout ratio is 26.89%.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin bought 53,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. In other news, Director Edwin E. Mclaughlin purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were purchased 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 53,000 shares of Nexus Industrial REIT stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of C$8.45 per share, with a total value of C$448,024.90. 32.92% of the stock is currently owned by corporate 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.