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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.0533 per share on Wednesday, May 15th. This represents a $0.64 annualized dividend and a dividend yield of 9.06%. The ex-dividend date is Monday, April 29th.

Nexus Industrial REIT Stock Up 0.6 %

Shares of NXR.UN traded up C$0.04 during midday trading on Friday, hitting C$7.06. The company had a trading volume of 93,614 shares, compared to its average volume of 148,745. The company’s 50 day moving average price is C$7.53 and its 200 day moving average price is C$7.59. The stock has a market cap of C$485.45 million, a price-to-earnings ratio of 3.03 and a beta of 1.45. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$9.97. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77.

Analyst Upgrades and Downgrades

NXR.UN has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a “sector perform” rating for the company in a research report on Monday, March 18th. BMO Capital Markets decreased their target price on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. Laurentian set a C$10.00 target price on shares of Nexus Industrial REIT and gave the stock a “buy” rating in a research report on Monday, January 22nd. TD Securities decreased their target price on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a research report on Wednesday. Finally, Raymond James decreased their target price on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Nexus Industrial REIT presently has a consensus rating of “Hold” and a consensus target price of C$8.61.

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.