Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$9.00

Nexus Industrial REIT (TSE:NXR.UN) had its target price raised by analysts at Raymond James Financial from C$8.25 to C$9.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial‘s price target indicates a potential upside of 9.62% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Desjardins lifted their price target on shares of Nexus Industrial REIT from C$8.25 to C$8.75 and gave the stock a “buy” rating in a report on Monday. National Bank Financial upped their price objective on Nexus Industrial REIT from C$7.75 to C$8.25 and gave the company a “sector perform” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$8.67.

Nexus Industrial REIT Stock Performance

TSE NXR.UN traded down C$0.16 during trading hours on Tuesday, reaching C$8.21. 255,897 shares of the company were exchanged, compared to its average volume of 196,494. The stock has a market capitalization of C$797.19 million, a P/E ratio of 15.14 and a beta of 1.13. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a 1 year low of C$7.01 and a 1 year high of C$8.46. The business’s 50 day simple moving average is C$7.33 and its 200-day simple moving average is C$7.78.

Nexus Industrial REIT (TSE:NXR.UN) last released its earnings results on Friday, November 6th. The company reported C$0.33 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$45.74 million for the quarter. On average, equities research analysts expect that Nexus Industrial REIT will post 0.78 earnings per share for the current year.

Nexus Industrial REIT Company Profile

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.