Nexus Industrial REIT (TSE:NXR.UN) Price Target Cut to C$9.00 by Analysts at Raymond James

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

A number of other equities analysts have also issued reports on the company. TD Securities lowered their price target on Nexus Industrial REIT from C$8.00 to C$7.50 in a report on Wednesday. Royal Bank of Canada dropped their target price on Nexus Industrial REIT from C$9.00 to C$8.50 and set a “sector perform” rating on the stock in a report on Monday, March 18th. CIBC cut their price target on Nexus Industrial REIT from C$10.50 to C$9.75 in a research note on Friday, March 15th. BMO Capital Markets lowered their price objective on shares of Nexus Industrial REIT from C$8.50 to C$8.00 in a research report on Monday, March 25th. Finally, Laurentian set a C$10.00 price objective on shares of Nexus Industrial REIT and gave the stock a “buy” rating in a research report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$8.61.

Nexus Industrial REIT Stock Performance

Nexus Industrial REIT stock traded down C$0.15 during midday trading on Wednesday, hitting C$7.14. 29,266 shares of the company’s stock were exchanged, compared to its average volume of 149,390. 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 stock has a market cap of C$490.95 million, a price-to-earnings ratio of 3.07 and a beta of 1.45. Nexus Industrial REIT has a 12-month low of C$6.08 and a 12-month high of C$9.97. The firm’s 50 day simple moving average is C$7.60 and its 200 day simple moving average is C$7.59.

Nexus Industrial REIT Company Profile

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.