Nexus Industrial REIT (TSE:NXR.UN) Plans Monthly Dividend of $0.05

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 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 8.01%. The ex-dividend date of this dividend is Friday, November 29th.

Nexus Industrial REIT Stock Performance

TSE NXR.UN traded up C$0.03 during trading on Wednesday, hitting C$7.99. The company’s stock had a trading volume of 15,524 shares, compared to its average volume of 148,631. Nexus Industrial REIT has a 52 week low of C$6.47 and a 52 week high of C$9.15. The firm has a market cap of C$565.21 million, a P/E ratio of 3.29 and a beta of 1.51. The firm has a 50 day moving average price of C$8.51 and a 200 day moving average price of C$7.85. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95.

Insider Activity at Nexus Industrial REIT

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

Wall Street Analyst Weigh In

NXR.UN has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. Royal Bank of Canada upped their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research report on Friday, August 16th. Scotiabank lifted their target price 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. Raymond James boosted their price target on Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Finally, Desjardins raised their price objective 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.