Nexus Industrial REIT (TSE:NXR.UN) Given New C$8.00 Price Target at CIBC

Key Points

• CIBC has raised its price target for Nexus Industrial REIT from C$7.50 to C$8.00, suggesting a potential upside of 1.14% based on the company's previous close.
• Other analysts, including Raymond James and Scotiabank, have also increased their price objectives for the stock, with a consensus rating of "Hold" and an average target price of C$8.34.
• Insider trading activity includes purchases by directors, with insiders acquiring a total of 15,571 shares valued at approximately C$117,134 over the last ninety days.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) had its price target lifted by analysts at CIBC from C$7.50 to C$8.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the stock. CIBC's target price would indicate a potential upside of 1.14% from the company's previous close.

A number of other equities research analysts have also issued reports on NXR.UN. Raymond James Financial upped their price objective on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Scotiabank upped their price objective on shares of Nexus Industrial REIT from C$7.00 to C$7.50 and gave the company a "sector perform" rating in a report on Wednesday, May 21st. Finally, National Bankshares upped their price objective on shares of Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a "sector perform" rating in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$8.34.

Nexus Industrial REIT Trading Up 0.6%

Shares of NXR.UN stock traded up C$0.05 on Wednesday, hitting C$7.91. 78,197 shares of the stock traded hands, compared to its average volume of 171,927. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. Nexus Industrial REIT has a twelve month low of C$5.98 and a twelve month high of C$9.15. The firm's 50-day moving average price is C$7.64 and its two-hundred day moving average price is C$7.26. The stock has a market capitalization of C$559.55 million, a PE ratio of 3.27 and a beta of 1.51.

Insider Buying and Selling at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin purchased 3,372 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was purchased at an average cost of C$7.91 per share, with a total value of C$26,678.25. Also, Director Daniel Martin Oberste purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of C$7.54 per share, with a total value of C$37,675.00. Over the last ninety days, insiders have purchased 15,571 shares of company stock valued at $117,134. Corporate insiders own 32.92% of the company's stock.

Nexus Industrial REIT Company Profile

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.

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