Nexus Industrial REIT (TSE:NXR.UN) Downgraded to Sector Perform Rating by National Bankshares

Nexus Industrial REIT (TSE:NXR.UN) was downgraded by investment analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a report issued on Monday,BayStreet.CA reports. They presently have a C$6.75 price target on the stock, down from their prior price target of C$8.75. National Bankshares’ price target would indicate a potential upside of 5.30% from the company’s previous close.

Several other equities analysts have also commented on the stock. Royal Bank of Canada decreased their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a report on Tuesday, March 11th. Scotiabank cut Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$8.50 to C$7.00 in a research note on Tuesday, April 8th. Desjardins dropped their price objective on Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Raymond James decreased their target price 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, March 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$8.22.

Nexus Industrial REIT Trading Up 0.9 %

NXR.UN traded up C$0.06 on Monday, hitting C$6.41. The company had a trading volume of 137,646 shares, compared to its average volume of 203,262. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The firm has a market cap of C$453.44 million, a P/E ratio of 2.65 and a beta of 1.51. The company’s fifty day moving average price is C$7.04 and its 200 day moving average price is C$7.68. Nexus Industrial REIT has a 1 year low of C$5.98 and a 1 year high of C$9.15.

Insider Activity

In other news, Director Edwin E. Mclaughlin bought 8,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of C$6.49 per share, for a total transaction of C$51,934.40. Company insiders own 32.92% of the company’s stock.

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.