Nexus Industrial REIT (TSE:NXR.UN) Given Average Recommendation of “Moderate Buy” by Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$8.92.

A number of brokerages have recently commented on NXR.UN. 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. Desjardins increased their target price on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research report on Friday, August 16th. Raymond James upped their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. BMO Capital Markets lifted their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. Finally, Royal Bank of Canada increased their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th.

Insider Activity

In other news, Director Edwin E. Mclaughlin purchased 57,120 shares of the company’s stock in a transaction on Friday, October 4th. The stock was acquired at an average price of C$8.76 per share, with a total value of C$500,296.94. In the last quarter, insiders purchased 118,991 shares of company stock valued at $1,023,523. Insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Trading Down 0.6 %

TSE NXR.UN opened at C$8.09 on Wednesday. The business’s fifty day moving average is C$8.59 and its 200-day moving average is C$7.82. 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 stock has a market capitalization of C$572.29 million, a price-to-earnings ratio of 3.34 and a beta of 1.51. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be given a dividend of $0.0533 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 7.91%. Nexus Industrial REIT’s payout ratio is 26.45%.

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.