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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.0533 per share on Wednesday, May 15th. This represents a $0.64 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend is Monday, April 29th.

Nexus Industrial REIT Price Performance

NXR.UN stock traded up C$0.04 during mid-day trading on Friday, hitting C$7.06. 93,614 shares of the stock were exchanged, compared to its average volume of 148,745. The company has a debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12. The business has a fifty day moving average price of C$7.53 and a 200 day moving average price of C$7.59. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$9.97. The stock has a market capitalization of C$485.45 million, a price-to-earnings ratio of 3.03 and a beta of 1.45.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a research note on Monday, March 25th. TD Securities dropped their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a research note on Wednesday. CIBC dropped their price target on Nexus Industrial REIT from C$10.50 to C$9.75 in a research note on Friday, March 15th. Raymond James decreased their price objective on Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set a “sector perform” rating on the stock in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$8.61.

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.