Nexus Industrial REIT (TSE:NXR.UN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$8.86.

A number of research firms have recently commented on NXR.UN. Scotiabank upped 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 research note on Friday, August 16th. Royal Bank of Canada increased their price target on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$7.50 to C$8.00 in a research note on Thursday, July 18th. BMO Capital Markets lifted their target price on Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Finally, Raymond James lifted their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin purchased 53,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of C$8.45 per share, for a total transaction of C$448,024.90. In other news, Director Edwin E. Mclaughlin acquired 53,000 shares of Nexus Industrial REIT stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. Also, Director Edwin E. Mclaughlin bought 57,120 shares of the stock in a transaction on Friday, October 4th. The shares were acquired at an average price of C$8.76 per share, with a total value of C$500,296.94. Insiders acquired a total of 115,746 shares of company stock worth $997,785 in the last 90 days. 32.92% of the stock is owned by corporate insiders.

Nexus Industrial REIT Price Performance

Shares of TSE:NXR.UN opened at C$8.31 on Friday. The company has a market cap of C$587.85 million, a P/E ratio of 3.43 and a beta of 1.51. The business has a fifty day simple moving average of C$8.64 and a 200-day simple moving average of C$7.72. Nexus Industrial REIT has a 52 week low of C$6.47 and a 52 week high of C$9.15. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.0533 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.70%. The ex-dividend date is Thursday, October 31st. Nexus Industrial REIT’s dividend payout ratio (DPR) is 26.45%.

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.