Nexus Industrial REIT (TSE:NXR.UN) has received an average price target of C$8.29 from seven analysts currently covering the firm, according to MarketBeat Ratings. The analysts have collectively assigned a rating of “Hold” to the stock, with five recommending a hold and two suggesting a buy.
Desjardins recently revised their price target for Nexus Industrial REIT, increasing it from C$8.75 to C$9.00. They also upgraded their recommendation to a “buy” in a report released on October 6, 2023.
Recent Financial Performance
In its last quarterly earnings report on November 13, 2023, Nexus Industrial REIT announced earnings per share of C$0.04. The company’s revenue for the quarter reached C$43.30 million. Notably, Nexus Industrial REIT achieved a net margin of 99.45% and a return on equity of 16.47%. Analysts project that the company will post earnings per share of approximately 0.78 for the current fiscal year.
Dividend Announcement
Nexus Industrial REIT has also declared a monthly dividend of C$0.0533 per share, which was paid out on November 14, 2023. Shareholders on record as of that date received the dividend, with the ex-dividend date set for October 31, 2023. This results in an annualized dividend yield of 8.1%, with the current payout ratio standing at 77.46%.
Nexus Industrial REIT operates as a growth-oriented real estate investment trust focused on enhancing unitholder value through the acquisition and management of industrial, office, and retail properties. As the market continues to evolve, the firm’s strategic decisions will play a crucial role in its performance and investor sentiment.
