Nexus Industrial REIT (TSE:NXR.UN) Price Target Cut to C$7.50 by Analysts at TD Securities

Nexus Industrial REIT (TSE:NXR.UN) had its price target trimmed by TD Securities from C$8.00 to C$7.50 in a research note issued to investors on Wednesday, BayStreet.CA reports.

Several other research analysts also recently commented on NXR.UN. Laurentian set a C$10.00 price objective on shares of Nexus Industrial REIT and gave the company a buy rating in a report on Monday, January 22nd. National Bankshares dropped their price objective on shares of Nexus Industrial REIT from C$8.75 to C$8.50 in a report on Friday, March 15th. BMO Capital Markets dropped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. Raymond James increased their price objective on shares of Nexus Industrial REIT from C$9.25 to C$9.75 and gave the company an outperform rating in a report on Monday, January 8th. Finally, CIBC decreased their target price on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of C$8.61.

Nexus Industrial REIT Stock Down 2.1 %

NXR.UN opened at C$7.14 on Wednesday. The firm has a 50-day simple moving average of C$7.58 and a two-hundred day simple moving average of C$7.59. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$9.97. The company has a market capitalization of C$490.95 million, a PE ratio of 3.06 and a beta of 1.45. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77.

Nexus Industrial REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend is Monday, April 29th. Nexus Industrial REIT’s dividend payout ratio is 27.47%.

Nexus Industrial REIT Company Profile

Nexus 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 located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.