National Bank Financial Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.50

Nexus Industrial REIT (TSE:NXR.UN) had its price target cut by National Bank Financial from C$8.75 to C$8.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Separately, Desjardins reduced their target price on Nexus Industrial REIT from C$9.00 to C$8.50 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$8.17.

Nexus Industrial REIT Trading Down 1.0%

Shares of Nexus Industrial REIT stock opened at C$7.70 on Wednesday. The firm has a 50-day moving average of C$7.77 and a 200-day moving average of C$7.83. The stock has a market cap of C$747.56 million, a PE ratio of 12.98 and a beta of 1.38. Nexus Industrial REIT has a 52-week low of C$7.06 and a 52-week high of C$8.41. 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 (TSE:NXR.UN) last announced its earnings results on Monday, May 11th. The company reported C$0.45 earnings per share (EPS) for the quarter. The company had revenue of C$46.02 million during the quarter. Nexus Industrial REIT had a net margin of 99.45% and a return on equity of 16.47%. As a group, sell-side analysts forecast that Nexus Industrial REIT will post 0.7800905 EPS for the current year.

Nexus Industrial REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a dividend of $0.0533 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Thursday, April 30th. Nexus Industrial REIT’s dividend payout ratio (DPR) is 107.86%.

Nexus Industrial REIT Company Profile

Nexus Industrial REIT 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.