Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$9.50

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

NXR.UN has been the subject of several other reports. 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. Desjardins upped their price target on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada boosted their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Finally, BMO Capital Markets increased their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Nexus Industrial REIT Stock Up 0.9 %

Nexus Industrial REIT stock opened at C$8.00 on Wednesday. The firm has a 50 day simple moving average of C$8.60 and a 200 day simple moving average of C$7.80. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a 1-year low of C$6.47 and a 1-year high of C$9.15. The firm has a market capitalization of C$565.92 million, a price-to-earnings ratio of 3.31 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

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

Insider Activity at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin acquired 57,120 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were purchased at an average price of C$8.76 per share, for a total transaction of C$500,296.94. In the last three months, insiders have bought 116,586 shares of company stock valued at $1,004,387. Corporate insiders own 32.92% of the company’s stock.

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.