Raymond James Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its price objective lowered by Raymond James from C$9.75 to C$9.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on NXR.UN. TD Securities decreased their price objective on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday. Laurentian set a C$10.00 price target on Nexus Industrial REIT and gave the stock a buy rating in a report on Monday, January 22nd. BMO Capital Markets decreased their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. CIBC decreased their price target on Nexus Industrial REIT from C$10.50 to C$9.75 in a report on Friday, March 15th. Finally, National Bankshares decreased their price target on Nexus Industrial REIT from C$8.50 to C$7.50 and set a sector perform rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of C$8.61.

Nexus Industrial REIT Stock Performance

TSE NXR.UN opened at C$7.06 on Wednesday. The company has a market capitalization of C$485.45 million, a price-to-earnings ratio of 3.03 and a beta of 1.45. Nexus Industrial REIT has a twelve month low of C$6.08 and a twelve month high of C$9.97. The stock has a fifty day simple moving average of C$7.53 and a 200 day simple moving average of C$7.59. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.0533 per share. 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 dividend payout ratio (DPR) is presently 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.