Nexus Industrial REIT (NXR.UN) to Issue Monthly Dividend of $0.05 on December 13th

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.0533 per share on Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date is Friday, November 29th.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN traded up C$0.01 during trading on Wednesday, reaching C$7.97. The company had a trading volume of 22,041 shares, compared to its average volume of 148,683. 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 debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The business’s 50 day moving average price is C$8.51 and its 200-day moving average price is C$7.85. The stock has a market cap of C$563.80 million, a PE ratio of 3.30 and a beta of 1.51.

Wall Street Analyst Weigh In

NXR.UN has been the topic of several analyst reports. CIBC raised their price objective on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Scotiabank lifted their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Raymond James upped their price objective on Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. BMO Capital Markets boosted their target price on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Finally, Desjardins upped their price target on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$8.92.

Insiders Place Their Bets

In other news, Director Edwin E. Mclaughlin bought 57,120 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was acquired at an average cost of C$8.76 per share, for a total transaction of C$500,296.94. Insiders have purchased 118,991 shares of company stock valued at $1,023,523 in the last 90 days. 32.92% of the stock is currently owned by 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.