Nexus Industrial REIT (TSE:NXR.UN) Lifted to “Outperform” at National Bankshares

National Bankshares upgraded shares of Nexus Industrial REIT (TSE:NXR.UN) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has C$8.00 price target on the stock, up from their prior price target of C$7.50.

A number of other equities analysts have also weighed in on NXR.UN. CIBC lowered their target price on Nexus Industrial REIT from C$9.75 to C$9.00 and set an outperform rating on the stock in a research report on Thursday, May 16th. Scotiabank decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.50 in a report on Thursday, May 16th. Desjardins decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a buy rating for the company in a report on Thursday, May 16th. Royal Bank of Canada decreased their price target on Nexus Industrial REIT from C$8.50 to C$8.00 and set a sector perform rating for the company in a report on Thursday, May 16th. Finally, Raymond James decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an outperform rating for the company in a report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$8.47.

Nexus Industrial REIT Price Performance

Shares of TSE:NXR.UN opened at C$7.74 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77. Nexus Industrial REIT has a twelve month low of C$6.08 and a twelve month high of C$8.60. The stock’s 50 day moving average is C$7.05 and its 200-day moving average is C$7.49. The firm has a market capitalization of C$533.21 million, a price-to-earnings ratio of 3.32 and a beta of 1.46.

Nexus Industrial REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th were paid a $0.0533 dividend. The ex-dividend date was Monday, April 29th. This represents a $0.64 dividend on an annualized basis and a yield of 8.26%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 27.47%.

Insider Buying and Selling at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 100,000 shares of Nexus Industrial REIT stock in a transaction on Tuesday, June 25th. The stock was purchased at an average price of C$6.80 per share, for a total transaction of C$679,850.00. In other news, Director Edwin E. Mclaughlin purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average price of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin purchased 9,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average price of C$7.07 per share, with a total value of C$63,586.80. Insiders acquired 111,160 shares of company stock worth $758,691 in the last quarter. 33.83% of the stock is currently owned by company insiders.

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.