Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$8.25

Nexus Industrial REIT (TSE:NXR.UN) had its price objective boosted by National Bank Financial from C$7.75 to C$8.25 in a report published on Monday morning,BayStreet reports. The firm currently has a sector perform rating on the stock.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN opened at C$8.16 on Monday. The firm has a fifty day moving average price of C$7.36 and a 200-day moving average price of C$7.78. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The stock has a market cap of C$792.34 million, a PE ratio of 15.05 and a beta of 1.13. Nexus Industrial REIT has a 1 year low of C$7.01 and a 1 year high of C$8.46.

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

Nexus Industrial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be issued 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 currently 118.00%.

Nexus Industrial REIT Company Profile

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.