Nexus Industrial REIT (TSE:NXR.UN) Director Buys C$393,845.00 in Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin acquired 50,000 shares of Nexus Industrial REIT stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of C$7.88 per share, with a total value of C$393,845.00.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN traded up C$0.19 during mid-day trading on Wednesday, reaching C$7.96. 166,851 shares of the company were exchanged, compared to its average volume of 146,454. Nexus Industrial REIT has a twelve month low of C$6.47 and a twelve month high of C$9.15. The stock has a market capitalization of C$563.09 million, a P/E ratio of 3.21 and a beta of 1.51. The company’s 50-day simple moving average is C$8.30 and its 200-day simple moving average is C$7.89. 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 Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.0533 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date of this dividend is Friday, November 29th. Nexus Industrial REIT’s dividend payout ratio is presently 26.45%.

Wall Street Analysts Forecast Growth

NXR.UN has been the subject of a number of recent research reports. Scotiabank upped their price target on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. BMO Capital Markets increased their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Raymond James lifted their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a research report on Friday, September 6th. CIBC increased their price target on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Finally, Desjardins boosted their price target on 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexus Industrial REIT has a consensus rating of “Moderate Buy” and a consensus target price of C$8.92.

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.