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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, February 28th, TickerTech Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.0533 per share on Friday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date of this dividend is Friday, February 28th.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN traded up C$0.11 during midday trading on Wednesday, reaching C$7.46. The company’s stock had a trading volume of 78,713 shares, compared to its average volume of 174,118. The company has a market cap of C$527.72 million, a price-to-earnings ratio of 3.08 and a beta of 1.51. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The company has a 50 day moving average price of C$7.50 and a 200 day moving average price of C$8.03.

Insider Activity at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin bought 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was purchased at an average price of C$7.88 per share, with a total value of C$393,845.00. 32.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NXR.UN. Raymond James reduced their price target on shares of Nexus Industrial REIT from C$9.75 to C$9.00 in a research report on Monday, January 13th. CIBC boosted their target price on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$8.72.

About Nexus Industrial REIT

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.