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

Nexus Industrial REIT (TSE:NXR.UN) declared 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

Shares of Nexus Industrial REIT stock opened at C$7.06 on Friday. The firm has a market cap of C$485.45 million, a PE ratio of 3.03 and a beta of 1.45. The firm’s 50-day simple moving average is C$7.53 and its 200-day simple moving average is C$7.59. The company has a debt-to-equity ratio of 139.77, a quick ratio of 0.12 and a current ratio of 0.36. Nexus Industrial REIT has a 1 year low of C$6.08 and a 1 year high of C$9.97.

Wall Street Analysts Forecast Growth

NXR.UN has been the topic of a number of recent analyst reports. TD Securities cut their target price on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a research note on Wednesday. National Bankshares dropped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a “sector perform” rating on the stock in a research note on Wednesday. CIBC dropped their price objective on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a research note on Friday, March 15th. Laurentian set a C$10.00 price objective on shares of Nexus Industrial REIT and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Raymond James dropped their price objective on shares of Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.