Nexus Industrial REIT (TSE:NXR.UN) Reaches New 12-Month High at $9.10

Shares of Nexus Industrial REIT (TSE:NXR.UN) reached a new 52-week high on Monday . The company traded as high as C$9.10 and last traded at C$8.98, with a volume of 10919 shares changing hands. The stock had previously closed at C$8.98.

Analyst Upgrades and Downgrades

NXR.UN has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Monday, August 19th. Raymond James upped their target price on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Scotiabank boosted their price target on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. National Bankshares raised Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Finally, Desjardins boosted their price objective on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Nexus Industrial REIT has an average rating of “Moderate Buy” and an average target price of C$8.81.

Nexus Industrial REIT Trading Up 0.3 %

The firm has a market cap of C$638.78 million, a P/E ratio of 3.79 and a beta of 1.51. The stock has a 50 day simple moving average of C$7.97 and a 200-day simple moving average of C$7.47. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95.

Nexus Industrial REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a $0.0533 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.08%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 26.89%.

Insider Activity at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were acquired at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. In other news, Director Edwin E. Mclaughlin purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin bought 53,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. 32.92% of the stock is owned by insiders.

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.