Nexus Industrial REIT (TSE:NXR.UN) Hits New 52-Week High at $9.10

Nexus Industrial REIT (TSE:NXR.UN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$9.10 and last traded at C$8.98, with a volume of 10919 shares traded. The stock had previously closed at C$8.98.

Wall Street Analyst Weigh In

NXR.UN has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Monday, August 19th. Scotiabank boosted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada increased their price objective on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$7.50 to C$8.00 in a report on Thursday, July 18th. Finally, Desjardins increased their price target on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.81.

Nexus Industrial REIT Stock Up 0.3 %

The company’s fifty day simple moving average is C$7.97 and its 200 day simple moving average is C$7.47. 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 firm has a market capitalization of C$638.78 million, a P/E ratio of 3.79 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were given a dividend of $0.0533 per share. This represents a $0.64 annualized dividend and a yield of 7.08%. The ex-dividend date was Friday, August 30th. Nexus Industrial REIT’s dividend payout ratio is currently 26.89%.

Insider Buying and Selling

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 100,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was purchased at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. In other news, Director Edwin E. Mclaughlin purchased 53,000 shares of Nexus Industrial REIT stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Also, Director Edwin E. Mclaughlin acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. 32.92% of the stock is owned by company insiders.

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.