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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 8.01%. The ex-dividend date of this dividend is Friday, November 29th.

Nexus Industrial REIT Price Performance

NXR.UN traded up C$0.03 during midday trading on Wednesday, hitting C$7.99. The stock had a trading volume of 18,439 shares, compared to its average volume of 148,675. The business has a fifty day moving average of C$8.51 and a 200 day moving average of C$7.85. Nexus Industrial REIT has a 1 year low of C$6.47 and a 1 year high of C$9.15. The company has a market cap of C$565.21 million, a P/E ratio of 3.30 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44.

Analysts Set New Price Targets

A number of equities analysts recently commented on NXR.UN shares. Royal Bank of Canada raised their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Desjardins upped their price target on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a report on Friday, August 16th. Scotiabank upped their price target on shares of 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. BMO Capital Markets increased their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Finally, Raymond James lifted their price target on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Nexus Industrial REIT has a consensus rating of “Moderate Buy” and an average target price of C$8.92.

Insider Buying and Selling

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