Insider Buying: Nexus Industrial REIT (TSE:NXR.UN) Director Buys 3,229 Shares of Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin acquired 3,229 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of C$6.93 per share, with a total value of C$22,376.97.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN opened at C$7.02 on Friday. Nexus Industrial REIT has a 52 week low of C$6.47 and a 52 week high of C$9.15. The business’s 50 day moving average price is C$7.26 and its 200 day moving average price is C$7.88. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The firm has a market cap of C$496.59 million, a P/E ratio of 2.90 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a $0.0533 dividend. This represents a $0.64 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Friday, February 28th. Nexus Industrial REIT’s dividend payout ratio (DPR) is currently 26.45%.

Wall Street Analyst Weigh In

NXR.UN has been the subject of a number of research analyst reports. Raymond James decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Desjardins lowered their target price on shares of Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada dropped their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.63.

About Nexus Industrial REIT

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.