Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) was downgraded by CIBC from an "outperform" rating to a "neutral" rating in a report issued on Wednesday,BayStreet.CA reports. They presently have a C$7.50 price target on the stock, down from their previous price target of C$8.50. CIBC's target price would indicate a potential upside of 1.63% from the stock's previous close.
A number of other research firms have also weighed in on NXR.UN. Raymond James increased their price target on Nexus Industrial REIT from C$8.25 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. National Bankshares increased their price target on Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a "sector perform" rating in a research report on Thursday, May 22nd. Royal Bank of Canada decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a "sector perform" rating for the company in a research report on Tuesday, March 11th. Desjardins decreased their price target on Nexus Industrial REIT from C$9.50 to C$8.75 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank increased their price objective on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the stock a "sector perform" rating in a research note on Wednesday, May 21st. Four 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, the stock has a consensus rating of "Hold" and an average target price of C$8.18.
View Our Latest Research Report on NXR.UN
Nexus Industrial REIT Trading Down 1.1%
Shares of TSE:NXR.UN traded down C$0.08 during midday trading on Wednesday, reaching C$7.38. The company had a trading volume of 112,270 shares, compared to its average volume of 184,308. 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 1-year low of C$5.98 and a 1-year high of C$9.15. The firm has a market cap of C$522.06 million, a price-to-earnings ratio of 3.05 and a beta of 1.51. The company has a fifty day simple moving average of C$7.00 and a two-hundred day simple moving average of C$7.27.
Insider Transactions at Nexus Industrial REIT
In other Nexus Industrial REIT news, Director Daniel Martin Oberste bought 5,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of C$7.54 per share, with a total value of C$37,675.00. Also, Director Edwin E. Mclaughlin bought 3,651 shares of the stock in a transaction on Thursday, May 15th. The stock was acquired at an average cost of C$7.20 per share, for a total transaction of C$26,295.60. Insiders bought 20,347 shares of company stock valued at $140,322 in the last three months. Corporate insiders own 32.92% of the company's stock.
About Nexus Industrial REIT
(
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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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