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

Nexus Industrial REIT (TSE:NXR.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.0533 per share on Wednesday, May 15th. This represents a $0.64 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date is Monday, April 29th.

Nexus Industrial REIT Stock Performance

TSE:NXR.UN opened at C$7.06 on Friday. 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 simple moving average of C$7.53 and a two-hundred day simple moving average of C$7.59. 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 market capitalization of C$485.45 million, a P/E ratio of 3.03 and a beta of 1.45.

Wall Street Analysts Forecast Growth

NXR.UN has been the subject of a number of recent research reports. Royal Bank of Canada decreased their target price on 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. 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 reduced their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a research report on Wednesday. CIBC reduced their price target on Nexus Industrial REIT from C$10.50 to C$9.75 in a research report on Friday, March 15th. Finally, Raymond James reduced 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 research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Nexus Industrial REIT has a consensus rating of “Hold” and a consensus 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.