Nexus Industrial REIT (TSE:NXR.UN) Plans $0.05 Monthly Dividend

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Friday, September 27th, TickerTech reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.0533 per share on Tuesday, October 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date of this dividend is Friday, September 27th.

Nexus Industrial REIT Stock Down 0.8 %

Nexus Industrial REIT stock opened at C$8.94 on Thursday. The stock has a market cap of C$632.42 million, a PE ratio of 3.76 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. The stock has a fifty day moving average of C$8.14 and a 200 day moving average of C$7.52. Nexus Industrial REIT has a one year low of C$6.08 and a one year high of C$9.15.

Insiders Place Their Bets

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 53,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Corporate insiders own 32.92% of the company’s stock.

Wall Street Analyst Weigh In

NXR.UN has been the topic of several recent research reports. Royal Bank of Canada increased 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. Raymond James increased their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. 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 raised their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Monday, August 19th. Finally, Desjardins boosted their price target on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$8.81.

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.