Nexus Industrial REIT (TSE:NXR.UN) PT Lowered to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its target price dropped by analysts at Raymond James from C$9.75 to C$9.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 26.05% from the company’s current price.

Several other equities analysts have also recently weighed in on NXR.UN. BMO Capital Markets cut their price target on Nexus Industrial REIT from C$8.50 to C$8.00 in a report on Monday, March 25th. Laurentian set a C$10.00 price target on shares of Nexus Industrial REIT and gave the stock a “buy” rating in a research report on Monday, January 22nd. TD Securities lowered their price objective on shares of Nexus Industrial REIT from C$8.00 to C$7.50 in a research report on Wednesday. CIBC reduced their target price on shares of Nexus Industrial REIT from C$10.50 to C$9.75 in a report on Friday, March 15th. Finally, National Bankshares lowered their price target on shares of Nexus Industrial REIT from C$8.50 to C$7.50 and set a “sector perform” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$8.61.

Nexus Industrial REIT Price Performance

Shares of NXR.UN traded down C$0.15 during midday trading on Wednesday, hitting C$7.14. 29,266 shares of the company traded hands, compared to its average volume of 149,390. Nexus Industrial REIT has a 52 week low of C$6.08 and a 52 week high of C$9.97. The company has a debt-to-equity ratio of 139.77, a quick ratio of 0.12 and a current ratio of 0.36. The firm has a 50 day moving average of C$7.60 and a 200-day moving average of C$7.59. The stock has a market cap of C$490.95 million, a price-to-earnings ratio of 3.07 and a beta of 1.45.

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.