Nexus Industrial REIT (TSE:NXR.UN) Cut to “Sector Perform” at National Bankshares

National Bankshares cut shares of Nexus Industrial REIT (TSE:NXR.UN) from an outperform rating to a sector perform rating in a report published on Monday,BayStreet.CA reports. They currently have C$6.75 target price on the stock, down from their previous target price of C$8.75.

Several other equities research analysts also recently weighed in on the stock. Desjardins dropped their target price on shares of Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Raymond James decreased their target price on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada dropped their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank downgraded shares of Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nexus Industrial REIT presently has a consensus rating of “Moderate Buy” and an average price target of C$8.22.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN opened at C$6.65 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a fifty-two week low of C$5.98 and a fifty-two week high of C$9.15. The business has a 50 day moving average price of C$6.99 and a two-hundred day moving average price of C$7.64. The firm has a market cap of C$470.42 million, a PE ratio of 2.75 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be given a $0.0533 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 9.62%. Nexus Industrial REIT’s dividend payout ratio is presently 26.45%.

Insiders Place Their Bets

In other news, Director Edwin E. Mclaughlin bought 8,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of C$6.49 per share, with a total value of C$51,934.40. In the last three months, insiders have purchased 14,925 shares of company stock worth $98,728. 32.92% of the stock is owned by corporate 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.