Nexus Industrial REIT (TSE:NXR.UN) Director Acquires C$448,024.90 in Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin bought 53,000 shares of Nexus Industrial REIT stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of C$8.45 per share, for a total transaction of C$448,024.90.

Nexus Industrial REIT Stock Down 0.7 %

NXR.UN traded down C$0.06 during trading on Tuesday, hitting C$8.39. The stock had a trading volume of 39,913 shares, compared to its average volume of 155,538. Nexus Industrial REIT has a twelve month low of C$6.08 and a twelve month high of C$8.61. The stock has a 50 day simple moving average of C$7.57 and a two-hundred day simple moving average of C$7.41. The company has a debt-to-equity ratio of 129.94, a quick ratio of 0.12 and a current ratio of 0.44. The company has a market capitalization of C$593.51 million, a PE ratio of 3.55 and a beta of 1.51.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.0533 per share. The ex-dividend date is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 7.62%. Nexus Industrial REIT’s payout ratio is currently 26.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NXR.UN. National Bankshares raised 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 report on Thursday, July 18th. Raymond James raised their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.25 and gave the stock an “outperform” rating in a research report on Friday, August 16th. 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 report on Friday, August 16th. Royal Bank of Canada lifted their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Finally, Scotiabank lifted their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.78.

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.