Nexus Industrial REIT (TSE:NXR.UN) Hits New 12-Month High – Here’s Why

Nexus Industrial REIT (TSE:NXR.UN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$8.30 and last traded at C$8.29, with a volume of 117956 shares trading hands. The stock had previously closed at C$8.22.

Wall Street Analyst Weigh In

Separately, Desjardins lifted their price target on shares of Nexus Industrial REIT from C$8.75 to C$9.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$8.29.

Nexus Industrial REIT Price Performance

The firm has a market cap of C$814.01 million, a P/E ratio of 10.15 and a beta of 1.54. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The business’s 50 day moving average is C$7.78 and its two-hundred day moving average is C$7.80.

Nexus Industrial REIT (TSE:NXR.UN) last issued its quarterly earnings results on Thursday, November 13th. The company reported C$0.04 earnings per share for the quarter. The firm had revenue of C$43.30 million during the quarter. Nexus Industrial REIT had a return on equity of 16.47% and a net margin of 99.45%. As a group, analysts anticipate that Nexus Industrial REIT will post 0.7800905 earnings per share for the current year.

Nexus Industrial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were paid a $0.0533 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a yield of 7.6%. Nexus Industrial REIT’s payout ratio is 77.46%.

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.