Nexus Industrial REIT (TSE:NXR.UN) Price Target Cut to C$8.75 by Analysts at Royal Bank of Canada

Nexus Industrial REIT (TSE:NXR.UN) had its price target lowered by Royal Bank of Canada from C$9.00 to C$8.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 27.55% from the company’s previous close.

Several other brokerages also recently weighed in on NXR.UN. 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. Raymond James decreased their target price on shares of Nexus Industrial REIT from C$9.75 to C$9.00 in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$8.63.

Nexus Industrial REIT Stock Down 4.3 %

Nexus Industrial REIT stock traded down C$0.31 during midday trading on Tuesday, reaching C$6.86. The company’s stock had a trading volume of 364,307 shares, compared to its average volume of 184,394. Nexus Industrial REIT has a 52-week low of C$6.47 and a 52-week high of C$9.15. The stock’s 50-day simple moving average is C$7.44 and its 200-day simple moving average is C$8.01. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The stock has a market capitalization of C$485.28 million, a P/E ratio of 2.83 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.