Desjardins Has Lowered Expectations for Nexus Industrial REIT (TSE:NXR.UN) Stock Price

Nexus Industrial REIT (TSE:NXR.UN) had its price target reduced by Desjardins from C$9.50 to C$8.75 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 27.55% from the company’s previous close.

Several other equities analysts have also issued reports on NXR.UN. CIBC lifted their price objective on shares of Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. Royal Bank of Canada decreased their price objective 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. Finally, Raymond James decreased their price target on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$8.63.

Nexus Industrial REIT Trading Down 4.3 %

Shares of TSE NXR.UN traded down C$0.31 during mid-day trading on Tuesday, reaching C$6.86. The company had a trading volume of 364,307 shares, compared to its average volume of 184,394. The stock has a market cap of C$485.28 million, a price-to-earnings ratio of 2.83 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. The business’s 50-day moving average is C$7.44 and its 200-day moving average is C$8.01. 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 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.