Desjardins Lowers Nexus Industrial REIT (TSE:NXR.UN) Price Target to C$8.75

Nexus Industrial REIT (TSE:NXR.UN) had its target price lowered by equities researchers at Desjardins from C$9.50 to C$8.75 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 24.64% from the company’s previous close.

NXR.UN has been the topic of a number of other research reports. CIBC upped their target price on Nexus Industrial REIT from C$9.00 to C$9.50 in a research note on Wednesday, November 13th. Royal Bank of Canada reduced their price target on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Raymond James reduced their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$8.63.

Nexus Industrial REIT Price Performance

NXR.UN stock opened at C$7.02 on Tuesday. Nexus Industrial REIT has a 1 year low of C$6.47 and a 1 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’s 50 day moving average price is C$7.42 and its 200 day moving average price is C$8.00. The firm has a market cap of C$496.59 million, a P/E ratio of 2.90 and a beta of 1.51.

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.