Raymond James Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its price objective cut by Raymond James from C$9.75 to C$9.00 in a report issued on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their price objective 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 research report on Monday, March 18th. National Bankshares decreased their price objective 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. TD Securities decreased their price objective on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a research report on Wednesday. CIBC decreased their price objective on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research report on Friday, March 15th. Finally, Laurentian set a C$10.00 price objective on shares of Nexus Industrial REIT and gave the company a buy rating in a research report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of C$8.61.

Nexus Industrial REIT Stock Performance

Nexus Industrial REIT stock opened at C$7.06 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.36 and a debt-to-equity ratio of 139.77. The company has a market capitalization of C$485.45 million, a PE ratio of 3.03 and a beta of 1.45. The firm has a fifty day simple moving average of C$7.53 and a two-hundred day simple moving average of C$7.59. Nexus Industrial REIT has a twelve month low of C$6.08 and a twelve month high of C$9.97.

Nexus Industrial REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors 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 9.06%. The ex-dividend date of this dividend is Monday, April 29th. Nexus Industrial REIT’s dividend payout ratio is currently 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.