Nexus Industrial REIT (TSE:NXR.UN) Given New C$8.75 Price Target at Desjardins

Nexus Industrial REIT (TSE:NXR.UN) had its target price lowered by Desjardins from C$9.50 to C$8.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 27.55% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. CIBC raised their price objective on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Royal Bank of Canada reduced their price objective on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Raymond James lowered their target price on shares of Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.63.

Nexus Industrial REIT Price Performance

TSE:NXR.UN traded down C$0.31 on Tuesday, hitting C$6.86. The company had a trading volume of 364,307 shares, compared to its average volume of 184,394. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a 52 week low of C$6.47 and a 52 week high of C$9.15. The stock has a market capitalization of C$485.28 million, a price-to-earnings ratio of 2.83 and a beta of 1.51. The firm has a 50 day moving average of C$7.44 and a two-hundred day moving average of C$8.01.

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.