National Bank Financial Cuts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.50

Nexus Industrial REIT (TSE:NXR.UN) had its target price lowered by equities researchers at National Bank Financial from C$8.75 to C$8.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 10.39% from the stock’s current price.

Separately, Desjardins dropped their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nexus Industrial REIT presently has a consensus rating of “Hold” and a consensus price target of C$8.17.

Nexus Industrial REIT Trading Down 1.2%

Nexus Industrial REIT stock traded down C$0.09 during trading on Wednesday, reaching C$7.70. The company had a trading volume of 171,732 shares, compared to its average volume of 183,071. Nexus Industrial REIT has a 12-month low of C$7.06 and a 12-month high of C$8.41. The stock’s 50 day moving average price is C$7.78 and its two-hundred day moving average price is C$7.83. The firm has a market capitalization of C$747.56 million, a price-to-earnings ratio of 12.55 and a beta of 1.38. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44.

Nexus Industrial REIT (TSE:NXR.UN) last announced its quarterly earnings results on Monday, May 11th. The company reported C$0.45 earnings per share 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$46.02 million for the quarter. As a group, equities analysts expect that Nexus Industrial REIT will post 0.7800905 earnings per share for the current fiscal year.

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.