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

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

Several other research analysts have also issued reports on the company. Laurentian set a C$10.00 target price on Nexus Industrial REIT and gave the company a buy rating in a research report on Monday, January 22nd. Royal Bank of Canada dropped their target price on 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 price target on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research note on Monday, March 25th. National Bankshares decreased their price target on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a sector perform rating for the company in a research note on Wednesday. Finally, CIBC decreased their price target on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of C$8.61.

Nexus Industrial REIT Trading Down 2.1 %

NXR.UN opened at C$7.14 on Wednesday. The firm has a market cap of C$490.95 million, a P/E ratio of 3.06 and a beta of 1.45. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$9.97. The company has a current ratio of 0.36, a quick ratio of 0.12 and a debt-to-equity ratio of 139.77. The stock has a 50-day moving average of C$7.58 and a 200 day moving average of C$7.59.

Nexus Industrial REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a $0.0533 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date of this dividend is Monday, April 29th. Nexus Industrial REIT’s dividend payout ratio (DPR) is 27.47%.

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.