Nexus Industrial REIT (TSE:NXR.UN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

A number of research firms have recently weighed in on NXR.UN. BMO Capital Markets boosted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Raymond James lifted their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. CIBC raised their target price on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. Royal Bank of Canada raised 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. Finally, Scotiabank upped their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, August 16th.

Nexus Industrial REIT Stock Up 0.3 %

TSE NXR.UN opened at C$7.96 on Wednesday. The stock has a 50 day moving average price of C$8.55 and a 200-day moving average price of C$7.84. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The company has a market capitalization of C$563.09 million, a P/E ratio of 3.29 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44.

Nexus Industrial REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend is Friday, November 29th. Nexus Industrial REIT’s dividend payout ratio is presently 26.45%.

Insider Activity at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 57,120 shares of Nexus Industrial REIT stock in a transaction dated Friday, October 4th. The stock was acquired at an average price of C$8.76 per share, for a total transaction of C$500,296.94. Over the last quarter, insiders bought 118,991 shares of company stock worth $1,023,523. Company 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.