Nexus Industrial REIT (TSE:NXR.UN) Receives C$8.61 Consensus Target Price from Brokerages

Nexus Industrial REIT (TSE:NXR.UN) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$8.61.

Several analysts recently weighed in on the company. National Bankshares dropped 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, April 24th. TD Securities dropped their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday, April 24th. BMO Capital Markets dropped their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. 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. Finally, Royal Bank of Canada dropped their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set a “sector perform” rating for the company in a report on Monday, March 18th.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN opened at C$7.19 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.12 and a debt-to-equity ratio of 139.77. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$9.64. The stock has a 50 day moving average of C$7.42 and a 200-day moving average of C$7.60. The company has a market capitalization of C$494.96 million, a P/E ratio of 3.09 and a beta of 1.45.

Nexus Industrial REIT Dividend Announcement

The company also recently announced 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.90%. The ex-dividend date is Monday, April 29th. Nexus Industrial REIT’s payout ratio 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.