Nexus Industrial REIT (TSE:NXR.UN) to Issue $0.05 Monthly Dividend

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.0533 per share on Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 8.01%. The ex-dividend date of this dividend is Friday, November 29th.

Nexus Industrial REIT Trading Up 0.4 %

Shares of TSE:NXR.UN traded up C$0.03 during trading on Wednesday, reaching C$7.99. 15,524 shares of the stock were exchanged, compared to its average volume of 148,631. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The firm’s 50-day moving average price is C$8.51 and its 200 day moving average price is C$7.85. 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 firm has a market cap of C$565.21 million, a price-to-earnings ratio of 3.29 and a beta of 1.51.

Insider Transactions at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin bought 53,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of C$8.45 per share, for a total transaction of C$448,024.90. Insiders acquired a total of 118,991 shares of company stock valued at $1,023,523 over the last quarter. Company insiders own 32.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NXR.UN. CIBC boosted their target price on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. BMO Capital Markets raised their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Scotiabank upped 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. Royal Bank of Canada lifted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. Finally, Desjardins increased their target price on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.