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

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Wednesday, April 30th, TickerTech Dividends reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.0533 per share on Thursday, May 15th. This represents a $0.64 annualized dividend and a yield of 9.52%. The ex-dividend date of this dividend is Wednesday, April 30th.

Nexus Industrial REIT Price Performance

TSE NXR.UN opened at C$6.72 on Monday. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The firm has a market capitalization of C$475.37 million, a price-to-earnings ratio of 2.78 and a beta of 1.51. The company has a 50 day simple moving average of C$6.91 and a 200-day simple moving average of C$7.53. Nexus Industrial REIT has a 52-week low of C$5.98 and a 52-week high of C$9.15.

Insiders Place Their Bets

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The shares were bought at an average price of C$6.49 per share, for a total transaction of C$51,934.40. Insiders purchased 14,925 shares of company stock worth $98,728 over the last three months. 32.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NXR.UN has been the subject of a number of research reports. National Bankshares lowered shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$8.75 to C$6.75 in a research note on Monday, April 14th. Raymond James dropped their target price on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada reduced their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating for the company in a report on Tuesday, March 11th. Desjardins dropped their price objective on Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank lowered shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$8.50 to C$7.00 in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$8.32.

Nexus Industrial REIT Company Profile

Nexus Industrial REIT 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.