Brokerages Set Nexus Industrial REIT (TSE:NXR.UN) Price Target at C$8.81

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$8.81.

A number of equities analysts have recently weighed in on NXR.UN shares. Scotiabank boosted their price objective on shares of 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. BMO Capital Markets upped their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Monday, August 19th. National Bankshares raised shares of Nexus Industrial REIT from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from C$7.50 to C$8.00 in a research report on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Finally, Desjardins upped their price target on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a "buy" rating in a research report on Friday, August 16th.

Insider Activity at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 57,120 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were purchased at an average price of C$8.76 per share, with a total value of C$500,296.94. In other news, Director Edwin E. Mclaughlin purchased 57,120 shares of the company's stock in a transaction dated Friday, October 4th. The shares were bought at an average price of C$8.76 per share, with a total value of C$500,296.94. Also, Director Edwin E. Mclaughlin purchased 53,000 shares of the company's stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. Over the last quarter, insiders have acquired 115,746 shares of company stock valued at $997,785. 32.92% of the stock is currently owned by corporate insiders.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN traded down C$0.13 on Friday, hitting C$8.54. The company's stock had a trading volume of 122,161 shares, compared to its average volume of 149,912. Nexus Industrial REIT has a 12-month low of C$6.08 and a 12-month high of C$9.15. The company has a market capitalization of C$604.12 million, a price-to-earnings ratio of 3.53 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The stock has a 50 day moving average of C$8.60 and a 200-day moving average of C$7.69.

Nexus Industrial REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 7.49%. The ex-dividend date is Thursday, October 31st. Nexus Industrial REIT's payout ratio is presently 26.45%.

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.