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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.0533 per share on Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date is Friday, November 29th.

Nexus Industrial REIT Price Performance

Shares of Nexus Industrial REIT stock opened at C$7.96 on Thursday. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The firm has a market capitalization of C$563.09 million, a PE ratio of 3.29 and a beta of 1.51. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The stock’s fifty day moving average is C$8.51 and its 200-day moving average is C$7.85.

Analyst Upgrades and Downgrades

NXR.UN has been the topic of a number of analyst reports. Scotiabank lifted their price target on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Royal Bank of Canada lifted their target price on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Desjardins upped their price target on shares of 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. CIBC lifted their price objective on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Finally, Raymond James increased their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Insider Transactions at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin acquired 57,120 shares of the company’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, for a total transaction of C$500,296.94. Over the last ninety days, insiders have purchased 65,991 shares of company stock valued at $575,498. 32.92% of the stock is 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.