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

Nexus Industrial REIT (TSE:NXR.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders 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 yield of 9.06%. The ex-dividend date of this dividend is Monday, April 29th.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN opened at C$7.06 on Friday. The stock has a market capitalization of C$485.45 million, a PE ratio of 3.03 and a beta of 1.45. 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 business has a fifty day moving average price of C$7.53 and a two-hundred day moving average price of C$7.59. Nexus Industrial REIT has a fifty-two week low of C$6.08 and a fifty-two week high of C$9.97.

Analysts Set New Price Targets

Several brokerages have weighed in on NXR.UN. National Bankshares dropped their price objective on Nexus Industrial REIT from C$8.50 to C$7.50 and set a “sector perform” rating for the company in a report on Wednesday. Laurentian set a C$10.00 price target on Nexus Industrial REIT and gave the stock a “buy” rating in a report on Monday, January 22nd. BMO Capital Markets lowered their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. TD Securities lowered their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday. Finally, Raymond James lowered their price target on Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Nexus Industrial REIT presently has a consensus rating of “Hold” and an average target price 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.