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

Key Points

• Desjardins has raised its price target for Nexus Industrial REIT from C$8.75 to C$9.00, maintaining a "buy" rating and indicating an 8.96% potential upside from the previous close.
• Other firms, including CIBC and TD Securities, adjusted their price targets for the REIT, with ratings ranging from "neutral" to "hold".
• Nexus Industrial REIT's stock is currently trading at C$8.26, with a significant market cap of C$801.38 million and a beta of 1.73, indicating volatility in comparison to the market.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) had its price objective boosted by equities researchers at Desjardins from C$8.75 to C$9.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' target price suggests a potential upside of 8.96% from the company's previous close.

Several other research analysts have also recently issued reports on the company. CIBC upped their price target on Nexus Industrial REIT from C$7.50 to C$8.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. National Bankshares reduced their target price on Nexus Industrial REIT from C$8.50 to C$8.25 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Finally, TD Securities lifted their price target on Nexus Industrial REIT from C$7.00 to C$8.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Nexus Industrial REIT has a consensus rating of "Hold" and an average target price of C$8.38.

Nexus Industrial REIT Price Performance

Shares of TSE NXR.UN traded up C$0.20 during midday trading on Monday, reaching C$8.26. The company's stock had a trading volume of 144,931 shares, compared to its average volume of 159,253. Nexus Industrial REIT has a one year low of C$5.98 and a one year high of C$8.88. The company has a market cap of C$801.38 million, a price-to-earnings ratio of 27.10 and a beta of 1.73. The company has a 50 day moving average price of C$7.80 and a 200 day moving average price of C$7.40. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95.

Insider Activity

In related news, Director Edwin E. Mclaughlin purchased 3,372 shares of the stock in a transaction dated Tuesday, July 15th. The shares were acquired at an average cost of C$7.91 per share, for a total transaction of C$26,678.25. 32.92% of the stock is owned by company insiders.

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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