TD Securities Boosts Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.00

Key Points

• TD Securities has raised its price target for Nexus Industrial REIT from C$7.00 to C$8.00, suggesting a potential upside of 1.14% from the stock's current price.
• Other analysts, including CIBC and Raymond James Financial, have also increased their price targets for Nexus Industrial REIT, reflecting a trend of positive outlooks among several brokerages.
• The stock has recently traded at C$7.91, with notable insider buying, indicating confidence from company executives as they acquire shares at current market prices.

Nexus Industrial REIT (TSE:NXR.UN - Get Free Report) had its target price upped by research analysts at TD Securities from C$7.00 to C$8.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' target price suggests a potential upside of 1.14% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. CIBC lifted their price target on shares of Nexus Industrial REIT from C$7.50 to C$8.00 and gave the stock a "neutral" rating in a research note on Wednesday. Raymond James Financial lifted their price target on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Scotiabank lifted their price target on shares of 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. Finally, National Bankshares lifted their price target on shares of Nexus Industrial REIT from C$6.75 to C$7.25 and gave the stock a "sector perform" rating in a research note 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 stock. According to data from MarketBeat.com, Nexus Industrial REIT has an average rating of "Hold" and a consensus price target of C$8.34.

Nexus Industrial REIT Stock Performance

NXR.UN stock traded up C$0.05 on Wednesday, hitting C$7.91. The company had a trading volume of 78,197 shares, compared to its average volume of 171,927. The stock's 50-day simple moving average is C$7.64 and its 200 day simple moving average is C$7.26. The stock has a market cap of C$559.55 million, a price-to-earnings ratio of 3.27 and a beta of 1.51. Nexus Industrial REIT has a 12-month low of C$5.98 and a 12-month high of C$9.15. 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 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 on Tuesday, July 15th. The shares were acquired at an average price of C$7.91 per share, for a total transaction of C$26,678.25. Also, Director Daniel Martin Oberste purchased 5,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was bought at an average price of C$7.54 per share, for a total transaction of C$37,675.00. Insiders have bought a total of 15,571 shares of company stock worth $117,134 over the last 90 days. 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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