Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) Price Target at C$8.72

Shares of Nexus Industrial REIT (TSE:NXR.UN) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$8.72.

A number of research analysts recently issued reports on the stock. CIBC boosted their target price on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Raymond James dropped their price objective on shares of Nexus Industrial REIT from C$9.75 to C$9.00 in a report on Monday, January 13th. Finally, BMO Capital Markets raised their target price on Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th.

Insiders Place Their Bets

In other news, Director Edwin E. Mclaughlin purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of C$7.88 per share, with a total value of C$393,845.00. In the last ninety days, insiders purchased 55,708 shares of company stock valued at $438,844. Corporate insiders own 32.92% of the company’s stock.

Nexus Industrial REIT Trading Up 2.2 %

Shares of NXR.UN stock opened at C$7.40 on Monday. 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 stock has a 50 day simple moving average of C$7.66 and a two-hundred day simple moving average of C$8.07. The company has a market cap of C$523.48 million, a P/E ratio of 3.06 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 14th will be given a $0.0533 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.64 annualized dividend and a yield of 8.64%. Nexus Industrial REIT’s payout ratio is 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.