Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$8.75

Nexus Industrial REIT (TSE:NXR.UN) had its price objective upped by Desjardins from C$8.25 to C$8.75 in a research report released on Monday morning,BayStreet reports. Desjardins currently has a buy rating on the stock.

Separately, National Bank Financial lifted their target price on Nexus Industrial REIT from C$7.75 to C$8.25 and gave the company a “sector perform” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and an average target price of C$8.67.

Nexus Industrial REIT Stock Performance

TSE NXR.UN opened at C$8.16 on Monday. The business’s 50 day moving average price is C$7.36 and its 200-day moving average price is C$7.78. The company has a market cap of C$792.34 million, a P/E ratio of 15.05 and a beta of 1.13. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. Nexus Industrial REIT has a fifty-two week low of C$7.01 and a fifty-two week high of C$8.46.

Nexus Industrial REIT (TSE:NXR.UN) last released its quarterly earnings data on Friday, November 6th. The company reported C$0.33 earnings per share (EPS) for the quarter. The company had revenue of C$45.74 million during the quarter. Nexus Industrial REIT had a net margin of 99.45% and a return on equity of 16.47%. Sell-side analysts predict that Nexus Industrial REIT will post 0.78 earnings per share for the current year.

Nexus Industrial REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be given a dividend of $0.0533 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.64 dividend on an annualized basis and a yield of 7.8%. Nexus Industrial REIT’s dividend payout ratio (DPR) is presently 118.00%.

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 87 properties comprising approximately 12.3 million square feet of gross leasable area. The REIT has approximately 97,097,000 voting units issued and outstanding, including approximately 73,490,000 REIT Units and approximately 23,607,000 Class B LP Units of subsidiary limited partnerships of Nexus, which are convertible to REIT Units on a one-to-one basis.