Nexus Industrial REIT (TSE:NXR.UN) Stock Price Expected to Rise, CIBC Analyst Says

Nexus Industrial REIT (TSE:NXR.UN) had its target price increased by equities researchers at CIBC from C$9.00 to C$9.50 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 19.80% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Raymond James lifted their target price on shares of Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. BMO Capital Markets boosted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. National Bankshares upgraded shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Finally, Desjardins boosted their price target on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$8.92.

Nexus Industrial REIT Trading Down 0.3 %

NXR.UN opened at C$7.93 on Wednesday. The firm has a market capitalization of C$560.97 million, a price-to-earnings ratio of 3.28 and a beta of 1.51. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The business has a 50 day simple moving average of C$8.61 and a two-hundred day simple moving average of C$7.80. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Insider Activity at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin acquired 57,120 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average price of C$8.76 per share, with a total value of C$500,296.94. Insiders have acquired 116,586 shares of company stock valued at $1,004,387 over the last ninety days. Insiders own 32.92% of the company’s stock.

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.