Nexus Industrial REIT (TSE:NXR.UN) Price Target Cut to C$11.00 by Analysts at National Bankshares

Nexus Industrial REIT (TSE:NXR.UN – Get Rating) had its price target reduced by equities research analysts at National Bankshares from C$11.25 to C$11.00 in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bankshares’ price target indicates a potential upside of 14.35% from the company’s previous close.

Other analysts have also issued research reports about the company. Scotiabank initiated coverage on Nexus Industrial REIT in a research report on Monday, January 30th. They set a “buy” rating and a C$12.00 price objective on the stock. Desjardins initiated coverage on Nexus Industrial REIT in a research report on Monday, December 12th. They set a “buy” rating and a C$12.75 price objective on the stock. BMO Capital Markets set a C$11.50 price objective on Nexus Industrial REIT and gave the stock a “market perform” rating in a research report on Monday, February 13th. Royal Bank of Canada dropped their target price on Nexus Industrial REIT from C$11.50 to C$11.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Raymond James dropped their target price on Nexus Industrial REIT from C$13.00 to C$12.50 and set a “strong-buy” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nexus Industrial REIT has a consensus rating of “Moderate Buy” and a consensus price target of C$12.03.

Nexus Industrial REIT Stock Down 0.7 %

Shares of TSE NXR.UN opened at C$9.62 on Thursday. The firm has a market cap of C$653.20 million, a price-to-earnings ratio of 3.35 and a beta of 1.24. The company has a quick ratio of 0.12, a current ratio of 0.66 and a debt-to-equity ratio of 130.50. Nexus Industrial REIT has a 52-week low of C$8.15 and a 52-week high of C$14.03. The business’s 50 day moving average is C$10.53 and its two-hundred day moving average is C$9.86.

Nexus Industrial REIT Company Profile

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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.