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

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Thursday, October 31st, TickerTech reports. Investors of record on Friday, November 15th will be paid a dividend of 0.0533 per share on Friday, November 15th. This represents a $0.64 annualized dividend and a yield of 7.55%. The ex-dividend date is Thursday, October 31st.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN opened at C$8.47 on Tuesday. Nexus Industrial REIT has a 12 month low of C$6.30 and a 12 month high of C$9.15. The firm has a fifty day simple moving average of C$8.62 and a 200 day simple moving average of C$7.70. The stock has a market capitalization of C$599.17 million, a price-to-earnings ratio of 3.54 and a beta of 1.51. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95.

Analyst Upgrades and Downgrades

NXR.UN has been the subject of a number of recent analyst reports. Scotiabank increased their price target on shares of 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. National Bankshares upgraded shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Raymond James raised their target price on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. BMO Capital Markets raised their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday. Finally, Desjardins raised their target price on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Nexus Industrial REIT has a consensus rating of “Moderate Buy” and an average target price of C$8.86.

Insider Buying and Selling

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 53,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average price of C$8.45 per share, for a total transaction of C$448,024.90. In other news, Director Edwin E. Mclaughlin purchased 57,120 shares of Nexus Industrial REIT stock in a transaction dated Friday, October 4th. The shares were bought at an average cost of C$8.76 per share, for a total transaction of C$500,296.94. Also, Director Edwin E. Mclaughlin purchased 53,000 shares of Nexus Industrial REIT stock in a transaction dated Thursday, August 29th. The shares were purchased at an average price of C$8.45 per share, for a total transaction of C$448,024.90. Over the last quarter, insiders have purchased 115,746 shares of company stock worth $997,785. Company insiders own 32.92% of the company’s stock.

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.