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. Stockholders 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 dividend yield of 9.06%. The ex-dividend date of this dividend is Monday, April 29th.

Nexus Industrial REIT Stock Up 0.6 %

Shares of NXR.UN stock opened at C$7.06 on Friday. The firm has a fifty day moving average of C$7.53 and a 200-day moving average of C$7.59. 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 has a 12-month low of C$6.08 and a 12-month high of C$9.97. The company 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 recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. Raymond James lowered their price objective on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating for the company in a research report on Wednesday. National Bankshares reduced their target price on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a “sector perform” rating for the company in a report on Wednesday. CIBC reduced their target price on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a report on Friday, March 15th. Finally, Royal Bank of Canada reduced their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a “sector perform” rating for the company in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.