Nexus Industrial REIT (TSE:NXR.UN) PT Raised to C$9.50

Nexus Industrial REIT (TSE:NXR.UN) had its price objective lifted by analysts at Raymond James from C$9.25 to C$9.50 in a research note issued on Friday, BayStreet.CA reports. Raymond James’ price target would suggest a potential upside of 12.69% from the company’s current price.

A number of other brokerages have also recently issued reports on NXR.UN. Royal Bank of Canada lifted their price objective on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. CIBC lowered their target price on Nexus Industrial REIT from C$9.75 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, May 16th. National Bankshares upgraded Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$7.50 to C$8.00 in a research note on Thursday, July 18th. BMO Capital Markets raised their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Monday, August 19th. Finally, Scotiabank raised their target price on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Nexus Industrial REIT presently has an average rating of “Moderate Buy” and a consensus price target of C$8.81.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN traded up C$0.01 during midday trading on Friday, reaching C$8.43. 71,815 shares of the company traded hands, compared to its average volume of 155,052. The firm has a market cap of C$596.34 million, a PE ratio of 3.54 and a beta of 1.51. The stock’s 50-day simple moving average is C$7.67 and its 200-day simple moving average is C$7.43. Nexus Industrial REIT has a 12 month low of C$6.08 and a 12 month high of C$8.61. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44.

Insider Buying and Selling

In related news, Director Edwin E. Mclaughlin bought 53,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of C$8.45 per share, for a total transaction of C$448,024.90. In related news, Director Edwin E. Mclaughlin bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of C$6.80 per share, for a total transaction of C$679,850.00. Also, Director Edwin E. Mclaughlin bought 53,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Insiders bought a total of 153,660 shares of company stock worth $1,132,449 over the last three months. 32.92% of the stock is currently owned by company insiders.

About Nexus Industrial REIT

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.