Nexus Industrial REIT (TSE:NXR.UN) Given New C$9.50 Price Target at CIBC

Nexus Industrial REIT (TSE:NXR.UN) had its price target boosted by CIBC from C$9.00 to C$9.50 in a research report report published on Wednesday,BayStreet.CA reports.

Several other research firms have also commented on NXR.UN. Raymond James raised their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. BMO Capital Markets raised their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. Scotiabank boosted their target price 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. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Finally, 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Nexus Industrial REIT currently has a consensus rating of “Moderate Buy” and an average price target of C$8.92.

Nexus Industrial REIT Price Performance

Shares of NXR.UN opened at C$7.95 on Wednesday. The business’s 50-day moving average is C$8.62 and its two-hundred day moving average is C$7.79. The company has a market capitalization of C$562.38 million, a P/E ratio of 3.29 and a beta of 1.51. Nexus Industrial REIT has a fifty-two week low of C$6.47 and a fifty-two week high of C$9.15. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44.

Nexus Industrial REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 8.05%. The ex-dividend date is Friday, November 29th. Nexus Industrial REIT’s payout ratio is 26.45%.

Insider Activity

In other news, Director Edwin E. Mclaughlin acquired 53,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 53,000 shares of the stock in a transaction on Thursday, August 29th. The shares were bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Also, Director Edwin E. Mclaughlin bought 57,120 shares of Nexus Industrial REIT stock in a transaction dated Friday, October 4th. The stock was acquired at an average price of C$8.76 per share, with a total value of C$500,296.94. Insiders have purchased a total of 116,586 shares of company stock worth $1,004,387 over the last 90 days. 32.92% 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.