Raymond James Issues Pessimistic Forecast for Nexus Industrial REIT (TSE:NXR.UN) Stock Price

Nexus Industrial REIT (TSE:NXR.UN) had its price objective lowered by analysts at Raymond James from C$9.00 to C$8.50 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 21.08% from the company’s previous close.

Several other research firms have also recently commented on NXR.UN. CIBC increased their price target on Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. Royal Bank of Canada cut 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 report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$8.63.

Nexus Industrial REIT Price Performance

TSE:NXR.UN opened at C$7.02 on Tuesday. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The company has a debt-to-equity ratio of 129.95, a quick ratio of 0.12 and a current ratio of 0.44. The stock has a market cap of C$496.59 million, a PE ratio of 2.90 and a beta of 1.51. The stock has a 50 day moving average price of C$7.42 and a 200 day moving average price of C$8.00.

About Nexus Industrial REIT

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.