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

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Friday, November 29th,TickerTech Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.0533 per share on Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 8.03%. The ex-dividend date is Friday, November 29th.

Nexus Industrial REIT Price Performance

Shares of NXR.UN traded up C$0.01 during mid-day trading on Wednesday, hitting C$7.97. 22,741 shares of the company were exchanged, compared to its average volume of 148,702. 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 debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The company has a 50 day moving average of C$8.51 and a 200-day moving average of C$7.85. The stock has a market cap of C$563.80 million, a price-to-earnings ratio of 3.30 and a beta of 1.51.

Insider Buying and Selling

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin purchased 57,120 shares of the stock in a transaction dated Friday, October 4th. The shares were acquired at an average cost of C$8.76 per share, for a total transaction of C$500,296.94. Insiders have purchased 118,991 shares of company stock worth $1,023,523 in the last ninety days. 32.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NXR.UN has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of 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. CIBC increased their price objective on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. Desjardins increased their price objective 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. Royal Bank of Canada increased their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Finally, Raymond James increased their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.92.

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.