Insider Buying: Nexus Industrial REIT (TSE:NXR.UN) Director Purchases C$19,136.10 in Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin acquired 2,405 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of C$7.96 per share, with a total value of C$19,136.10.

Nexus Industrial REIT Trading Down 0.9 %

NXR.UN stock opened at C$8.02 on Thursday. The firm has a fifty day moving average price of C$8.58 and a 200 day moving average price of C$7.83. Nexus Industrial REIT has a fifty-two week low of C$6.47 and a fifty-two week high of C$9.15. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The firm has a market cap of C$567.33 million, a PE ratio of 3.31 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 13th will be paid a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date is Friday, November 29th. Nexus Industrial REIT’s dividend payout ratio is currently 26.45%.

Wall Street Analyst Weigh In

NXR.UN has been the topic of several analyst reports. Desjardins lifted their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada raised their target price on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Scotiabank upped their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Raymond James upped their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Finally, CIBC boosted their target price on Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

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.