Nexus Industrial REIT (TSE:NXR.UN) Reaches New 52-Week High at $8.63

Shares of Nexus Industrial REIT (TSE:NXR.UN) hit a new 52-week high during trading on Tuesday . The company traded as high as C$8.63 and last traded at C$8.62, with a volume of 98799 shares changing hands. The stock had previously closed at C$8.49.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NXR.UN. BMO Capital Markets boosted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Monday, August 19th. Raymond James increased their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Desjardins upped their price target on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada raised their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. Finally, National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.81.

Nexus Industrial REIT Trading Up 0.1 %

The company has a market capitalization of C$623.93 million, a P/E ratio of 3.71 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The stock has a fifty day moving average of C$7.84 and a 200 day moving average of C$7.45.

Nexus Industrial REIT Announces Dividend

The company 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 $0.0533 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.25%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 26.89%.

Insider Buying and Selling

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 100,000 shares of the business’s stock in a transaction that occurred 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 related news, Director Edwin E. Mclaughlin purchased 100,000 shares of Nexus Industrial REIT stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin acquired 53,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of C$8.45 per share, with a total value of C$448,024.90. 32.92% of the stock is currently owned by 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.