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

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities 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 brokers that have covered the stock in the last year is C$8.92.

Several analysts recently commented on NXR.UN shares. CIBC lifted 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 boosted their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. BMO Capital Markets boosted their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Raymond James boosted their target price on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. Finally, Scotiabank upped their price objective 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.

Nexus Industrial REIT Stock Performance

Shares of Nexus Industrial REIT stock traded down C$0.07 during trading on Wednesday, hitting C$8.02. 131,893 shares of the stock were exchanged, compared to its average volume of 148,509. The stock has a market capitalization of C$567.33 million, a price-to-earnings ratio of 3.31 and a beta of 1.51. The company has a fifty day moving average price of C$8.58 and a 200-day moving average price of C$7.83. Nexus Industrial REIT has a 1-year low of C$6.47 and a 1-year high of C$9.15. 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 Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.98%. Nexus Industrial REIT's payout ratio is 26.45%.

Insider Transactions at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin purchased 53,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. In the last ninety days, insiders acquired 118,991 shares of company stock worth $1,023,523. 32.92% of the stock is currently owned by insiders.

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.