CIBC Issues Positive Forecast for Nexus Industrial REIT (TSE:NXR.UN) Stock Price

Nexus Industrial REIT (TSE:NXR.UN) had its price target increased by CIBC from C$9.00 to C$9.50 in a research report report published on Wednesday morning,BayStreet.CA reports.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada increased their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Scotiabank increased their price target on shares of 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 raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Desjardins increased their price target 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. Finally, BMO Capital Markets increased their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Nexus Industrial REIT currently has a consensus rating of “Moderate Buy” and an average target price of C$8.92.

Nexus Industrial REIT Stock Up 0.9 %

Shares of Nexus Industrial REIT stock opened at C$8.00 on Wednesday. The business has a 50-day moving average of C$8.60 and a 200-day moving average of C$7.80. 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 capitalization of C$565.92 million, a PE ratio of 3.31 and a beta of 1.51. Nexus Industrial REIT has a 1-year low of C$6.47 and a 1-year high of C$9.15.

Nexus Industrial REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be issued a $0.0533 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 8.00%. Nexus Industrial REIT’s dividend payout ratio is currently 26.45%.

Insiders Place Their Bets

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 53,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Insiders have acquired 116,586 shares of company stock valued at $1,004,387 over the last quarter. Insiders own 32.92% of the company’s stock.

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.