National Bankshares Lowers Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$7.50

Nexus Industrial REIT (TSE:NXR.UN) had its price target lowered by National Bankshares from C$8.50 to C$7.50 in a research note released on Wednesday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

NXR.UN has been the topic of a number of other research reports. BMO Capital Markets reduced their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. CIBC reduced their price target on Nexus Industrial REIT from C$10.50 to C$9.75 in a research report on Friday, March 15th. Raymond James increased their price target on Nexus Industrial REIT from C$9.25 to C$9.75 and gave the company an outperform rating in a research report on Monday, January 8th. Royal Bank of Canada dropped their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set a sector perform rating on the stock in a report on Monday, March 18th. Finally, TD Securities dropped their price objective on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$8.61.

Nexus Industrial REIT Price Performance

NXR.UN stock opened at C$7.06 on Wednesday. The company has a debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12. The firm has a market capitalization of C$485.45 million, a P/E ratio of 3.03 and a beta of 1.45. The business’s 50-day moving average is C$7.55 and its two-hundred day moving average is C$7.59. Nexus Industrial REIT has a 1 year low of C$6.08 and a 1 year high of C$9.97.

Nexus Industrial REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.0533 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.06%. Nexus Industrial REIT’s payout ratio is currently 27.47%.

About Nexus Industrial REIT

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.