National Bank Financial Forecasts Strong Price Appreciation for Nexus Industrial REIT (TSE:NXR.UN) Stock

Nexus Industrial REIT (TSE:NXR.UN) had its price target hoisted by equities researchers at National Bank Financial from C$7.75 to C$8.25 in a research note issued on Monday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial‘s target price would indicate a potential downside of 0.84% from the stock’s previous close.

Nexus Industrial REIT Stock Performance

Shares of TSE NXR.UN traded up C$0.35 during mid-day trading on Monday, hitting C$8.32. The company had a trading volume of 517,323 shares, compared to its average volume of 194,711. The firm has a market cap of C$807.87 million, a P/E ratio of 15.34 and a beta of 1.13. Nexus Industrial REIT has a 12 month low of C$7.01 and a 12 month high of C$8.46. The business’s 50-day simple moving average is C$7.32 and its 200-day simple moving average is C$7.78. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Nexus Industrial REIT (TSE:NXR.UN) last announced its quarterly earnings results on Friday, November 6th. The company reported C$0.33 earnings per share (EPS) 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$45.74 million for the quarter. As a group, analysts predict that Nexus Industrial REIT will post 0.78 earnings per share for the current fiscal year.

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 87 properties comprising approximately 12.3 million square feet of gross leasable area. The REIT has approximately 97,097,000 voting units issued and outstanding, including approximately 73,490,000 REIT Units and approximately 23,607,000 Class B LP Units of subsidiary limited partnerships of Nexus, which are convertible to REIT Units on a one-to-one basis.