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

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

Nexus Industrial REIT Stock Performance

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

Insider Activity at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin bought 8,000 shares of the stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of C$6.49 per share, for a total transaction of C$51,934.40. In the last ninety days, insiders acquired 14,925 shares of company stock worth $98,728. Corporate insiders own 32.92% of the company’s stock.

Wall Street Analyst Weigh In

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

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.