Nexus Industrial REIT (TSE:NXR.UN) to Issue $0.05 Monthly Dividend

Nexus Industrial REIT (TSE:NXR.UN) declared 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 is Monday, April 29th.

Nexus Industrial REIT Stock Performance

Shares of Nexus Industrial REIT stock opened at C$7.06 on Friday. 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 twelve month low of C$6.08 and a twelve month high of C$9.97. The stock has a market cap of C$485.45 million, a price-to-earnings ratio of 3.03 and a beta of 1.45. The company’s fifty day moving average is C$7.53 and its 200 day moving average is C$7.59.

Analyst Ratings Changes

NXR.UN has been the topic of several analyst reports. National Bankshares reduced 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 note on Wednesday. BMO Capital Markets reduced their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research note on Monday, March 25th. Raymond James reduced their price objective on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut 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 research report on Monday, March 18th. Finally, CIBC cut their price target on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Nexus Industrial REIT currently has a consensus rating of “Hold” and a consensus 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.