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

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

Nexus Industrial REIT Stock Performance

TSE:NXR.UN traded up C$0.04 during mid-day trading on Friday, reaching C$7.06. 93,614 shares of the company’s stock were exchanged, compared to its average volume of 148,745. The company has a debt-to-equity ratio of 139.77, a quick ratio of 0.12 and a current ratio of 0.36. Nexus Industrial REIT has a one year low of C$6.08 and a one year high of C$9.97. The firm has a market capitalization of C$485.45 million, a PE ratio of 3.03 and a beta of 1.45. The business’s fifty day simple moving average is C$7.53 and its two-hundred day simple moving average is C$7.59.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Laurentian set a C$10.00 price target on shares of Nexus Industrial REIT and gave the company a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada decreased their price target on shares of 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. CIBC decreased their price target on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a report on Friday, March 15th. National Bankshares cut their target price on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets cut their target price on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$8.61.

About Nexus Industrial REIT

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.