Desjardins Lowers Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.75

Nexus Industrial REIT (TSE:NXR.UN) had its price objective decreased by Desjardins from C$9.50 to C$8.75 in a research note released on Tuesday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

NXR.UN has been the topic of several other research reports. CIBC raised their price target on Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. Raymond James decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and an average target price of C$8.63.

Nexus Industrial REIT Price Performance

Nexus Industrial REIT stock opened at C$6.95 on Tuesday. The business’s 50-day simple moving average is C$7.40 and its 200 day simple moving average is C$7.99. The stock has a market cap of C$491.64 million, a price-to-earnings ratio of 2.87 and a beta of 1.51. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date of this dividend is Friday, February 28th. Nexus Industrial REIT’s dividend payout ratio (DPR) is currently 26.45%.

Nexus Industrial REIT Company Profile

Nexus Industrial REIT 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.