Nexus Industrial REIT (NXR.UN) to Issue Monthly Dividend of $0.05 on November 15th

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Thursday, October 31st, TickerTech reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.0533 per share on Friday, November 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date is Thursday, October 31st.

Nexus Industrial REIT Price Performance

NXR.UN stock traded down C$0.13 during mid-day trading on Tuesday, hitting C$8.44. 27,005 shares of the stock were exchanged, compared to its average volume of 149,042. The stock has a market capitalization of C$597.05 million, a price-to-earnings ratio of 3.54 and a beta of 1.51. Nexus Industrial REIT has a 12 month low of C$6.30 and a 12 month high of C$9.15. The business has a fifty day moving average price of C$8.62 and a 200 day moving average price of C$7.70. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Wall Street Analyst Weigh In

NXR.UN has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. BMO Capital Markets increased their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$7.50 to C$8.00 in a report on Thursday, July 18th. Raymond James boosted their price objective on Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Finally, Scotiabank increased 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$8.86.

Insider Activity at Nexus Industrial REIT

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

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.