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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, September 27th, TickerTech reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.0533 per share on Tuesday, October 15th. This represents a $0.64 annualized dividend 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 %

TSE:NXR.UN opened at C$8.94 on Thursday. 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 firm 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 50-day moving average of C$8.14 and a 200 day moving average of C$7.52. Nexus Industrial REIT has a 1-year low of C$6.08 and a 1-year high of C$9.15.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Scotiabank increased their target price on 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. Royal Bank of Canada boosted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Desjardins raised their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$7.50 to C$8.00 in a research report on Thursday, July 18th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$8.81.

Insider Activity at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin purchased 53,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of C$8.45 per share, for a total transaction of C$448,024.90. 32.92% of the stock is currently owned by insiders.

About Nexus Industrial REIT

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.