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

Nexus Industrial REIT (TSE:NXR.UN) had its price objective trimmed by Raymond James from C$9.75 to C$9.00 in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

NXR.UN has been the subject of a number of other reports. Laurentian set a C$10.00 price target on shares of Nexus Industrial REIT and gave the stock a buy rating in a research report on Monday, January 22nd. BMO Capital Markets dropped their price target on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. Royal Bank of Canada dropped their price target on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a sector perform rating for the company in a research report on Monday, March 18th. National Bankshares dropped their price target on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a sector perform rating for the company in a research report on Wednesday. Finally, CIBC dropped 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of C$8.61.

Nexus Industrial REIT Stock Performance

NXR.UN opened at C$7.06 on Wednesday. The firm has a market cap of C$485.45 million, a P/E ratio of 3.03 and a beta of 1.45. Nexus Industrial REIT has a 1-year low of C$6.08 and a 1-year high of C$9.97. The company has a 50 day simple moving average of C$7.55 and a two-hundred day simple moving average of C$7.59. The company has a debt-to-equity ratio of 139.77, a current ratio of 0.36 and a quick ratio of 0.12.

Nexus Industrial REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.0533 dividend. 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 (DPR) is presently 27.47%.

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.