Analysts Set Nexus Industrial REIT (TSE:NXR.UN) Target Price at C$8.92

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

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

Insider Buying and Selling at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin acquired 57,120 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average price of C$8.76 per share, with a total value of C$500,296.94. In the last 90 days, insiders have purchased 118,991 shares of company stock worth $1,023,523. Company insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Stock Up 0.3 %

NXR.UN stock opened at C$7.96 on Wednesday. The stock has a 50-day simple moving average of C$8.55 and a two-hundred day simple moving average of C$7.84. Nexus Industrial REIT has a twelve month low of C$6.47 and a twelve month high of C$9.15. The firm has a market capitalization of C$563.09 million, a PE ratio of 3.29 and a beta of 1.51. 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 Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 13th will be given a $0.0533 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 8.04%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 26.45%.

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.