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

Nexus Industrial REIT (TSE:NXR.UN) had its price target decreased by equities research analysts at Raymond James from C$9.75 to C$9.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 19.52% from the company’s previous close.

A number of other brokerages have also commented on NXR.UN. CIBC lifted their price objective on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$8.86.

Nexus Industrial REIT Price Performance

Shares of Nexus Industrial REIT stock traded down C$0.17 during trading on Monday, reaching C$7.53. The company’s stock had a trading volume of 83,012 shares, compared to its average volume of 98,601. The stock has a 50-day moving average price of C$7.89 and a two-hundred day moving average price of C$8.02. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a one year low of C$6.47 and a one year high of C$9.15. The stock has a market capitalization of C$532.67 million, a P/E ratio of 3.11 and a beta of 1.51.

Insider Activity at Nexus Industrial REIT

In other news, Director Edwin E. Mclaughlin bought 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were purchased at an average price of C$7.88 per share, for a total transaction of C$393,845.00. In the last three months, insiders acquired 57,552 shares of company stock worth $454,832. 32.92% of the stock is owned by company insiders.

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.