Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$9.50

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

Several other analysts also recently issued reports on NXR.UN. Raymond James lifted their target price on Nexus Industrial REIT from C$9.25 to C$9.50 in a research note on Friday, September 6th. Desjardins lifted their price objective on shares of Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research report on Friday, August 16th. BMO Capital Markets upped their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Scotiabank raised their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada lifted their target price on Nexus Industrial REIT from C$8.00 to C$8.50 in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Nexus Industrial REIT Trading Down 0.3 %

Shares of NXR.UN stock opened at C$7.93 on Wednesday. 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 fifty day simple moving average of C$8.61 and a two-hundred day simple moving average of C$7.80. The firm has a market capitalization of C$560.97 million, a PE ratio of 3.28 and a beta of 1.51. Nexus Industrial REIT has a 52-week low of C$6.47 and a 52-week high of C$9.15.

Insider Buying and Selling at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin acquired 53,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of C$8.45 per share, for a total transaction of C$448,024.90. Insiders have purchased a total of 116,586 shares of company stock worth $1,004,387 over the last ninety days. Company 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.