Nexus Industrial REIT (TSE:NXR.UN) Stock Rating Lowered by CIBC

CIBC lowered shares of Nexus Industrial REIT (TSE:NXR.UN) from an outperform rating to a neutral rating in a report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has C$7.50 target price on the stock, down from their previous target price of C$8.50.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada dropped their target price 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. Scotiabank increased their price target on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 21st. Desjardins decreased 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 research report on Tuesday, March 11th. Raymond James increased their price objective on Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, National Bankshares increased their price objective on Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a “sector perform” rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$8.18.

Nexus Industrial REIT Trading Down 1.1%

Shares of NXR.UN opened at C$7.38 on Wednesday. Nexus Industrial REIT has a 1 year low of C$5.98 and a 1 year high of C$9.15. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The stock has a 50 day simple moving average of C$7.00 and a 200-day simple moving average of C$7.27. The stock has a market cap of C$522.06 million, a PE ratio of 3.05 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 15th were paid a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend was Wednesday, April 30th. Nexus Industrial REIT’s payout ratio is presently 26.45%.

Insider Buying and Selling

In other news, Director Edwin E. Mclaughlin purchased 3,651 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of C$7.20 per share, with a total value of C$26,295.60. Also, Director Daniel Martin Oberste purchased 5,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of C$7.54 per share, for a total transaction of C$37,675.00. In the last quarter, insiders have acquired 20,347 shares of company stock valued at $140,322. 32.92% of the stock is owned by company insiders.

About Nexus Industrial REIT

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.