BMO Capital Markets Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.00

Nexus Industrial REIT (TSE:NXR.UN) had its target price decreased by BMO Capital Markets from C$8.50 to C$8.00 in a research note issued to investors on Monday, BayStreet.CA reports.

Several other brokerages have also recently issued reports on NXR.UN. Royal Bank of Canada lowered their price target on 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. Laurentian set a C$10.00 price target on Nexus Industrial REIT and gave the company a buy rating in a research report on Monday, January 22nd. TD Securities lowered their price target on Nexus Industrial REIT from C$8.50 to C$8.00 and set a hold rating on the stock in a research report on Friday, March 15th. National Bankshares lowered their price target on Nexus Industrial REIT from C$8.75 to C$8.50 in a research report on Friday, March 15th. Finally, Raymond James raised their price objective on Nexus Industrial REIT from C$9.25 to C$9.75 and gave the stock an outperform rating in a research note on Monday, January 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of C$8.93.

Nexus Industrial REIT Stock Up 1.9 %

NXR.UN opened at C$7.62 on Monday. 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 debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12. The stock has a market cap of C$523.95 million, a P/E ratio of 3.27 and a beta of 1.45. The stock’s 50 day moving average price is C$7.92 and its 200 day moving average price is C$7.61.

Nexus Industrial REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 15th were issued a dividend of $0.0533 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 8.39%. Nexus Industrial REIT’s dividend payout ratio is 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.