Weekly Research Analysts’ Ratings Changes for Nexus Industrial REIT (NXR.UN)

Posted by ABMN Staff on Sep 5th, 2024

Nexus Industrial REIT (TSE: NXR.UN) recently received a number of ratings updates from brokerages and research firms:

8/19/2024 – Nexus Industrial REIT had its price target raised by analysts at BMO Capital Markets from C$8.00 to C$8.50.
8/16/2024 – Nexus Industrial REIT had its price target raised by analysts at Scotiabank from C$8.50 to C$9.00. They now have an “outperform” rating on the stock.
8/16/2024 – Nexus Industrial REIT had its price target raised by analysts at Raymond James from C$8.50 to C$9.25. They now have an “outperform” rating on the stock.
8/16/2024 – Nexus Industrial REIT had its price target raised by analysts at Desjardins from C$8.75 to C$9.25. They now have a “buy” rating on the stock.
8/16/2024 – Nexus Industrial REIT had its price target raised by analysts at Royal Bank of Canada from C$8.00 to C$8.50.
7/18/2024 – Nexus Industrial REIT was upgraded by analysts at National Bankshares, Inc. from a “sector perform” rating to an “outperform” rating. They now have a C$8.00 price target on the stock, up previously from C$7.50.

Nexus Industrial REIT Stock Up 1.8 %

Shares of NXR.UN opened at C$8.47 on Thursday. The company has a market capitalization of C$599.17 million, a price-to-earnings ratio of 3.56 and a beta of 1.51. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$8.61. The stock’s 50-day moving average price is C$7.63 and its 200-day moving average price is C$7.42. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.94.

Nexus Industrial REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.0533 per share. The ex-dividend date is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.55%. Nexus Industrial REIT’s dividend payout ratio is currently 26.89%.

Insider Transactions at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin bought 53,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average cost of C$8.45 per share, with a total value of C$448,024.90. In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 53,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. Also, Director Edwin E. Mclaughlin purchased 100,000 shares of the firm’s stock in a transaction dated 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. Insiders purchased 153,660 shares of company stock valued at $1,132,449 over the last 90 days. Corporate insiders own 32.92% of the company’s stock.

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.