Scotiabank downgraded shares of Nexus Industrial REIT (TSE:NXR.UN - Free Report) from an outperform rating to a sector perform rating in a report published on Tuesday,BayStreet.CA reports. The firm currently has C$7.00 price objective on the stock, down from their prior price objective of C$8.50.
Other equities analysts have also recently issued research reports about the company. Desjardins lowered their price target on Nexus Industrial REIT from C$9.50 to C$8.75 and set a "buy" rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada dropped their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Finally, Raymond James cut their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$8.38.
Read Our Latest Stock Analysis on Nexus Industrial REIT
Nexus Industrial REIT Price Performance
Shares of TSE NXR.UN traded up C$0.10 during midday trading on Tuesday, reaching C$6.35. The company's stock had a trading volume of 103,770 shares, compared to its average volume of 204,404. 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 company has a market cap of C$449.20 million, a P/E ratio of 2.62 and a beta of 1.51. The business's 50 day moving average price is C$7.04 and its two-hundred day moving average price is C$7.69. Nexus Industrial REIT has a fifty-two week low of C$5.98 and a fifty-two week high of C$9.15.
Nexus Industrial REIT Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date is Wednesday, April 30th. 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 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average cost of C$6.49 per share, with a total value of C$51,934.40. Insiders own 32.92% of the company's stock.
Nexus Industrial REIT Company Profile
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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.
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