Nexus Industrial REIT (TSE:NXR.UN) Price Target Lowered to C$8.50 at Raymond James

Nexus Industrial REIT (TSE:NXR.UN) had its target price dropped by research analysts at Raymond James from C$9.00 to C$8.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 23.91% from the stock’s current price.

Several other equities analysts also recently commented on NXR.UN. CIBC boosted their price objective on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Royal Bank of Canada cut their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$8.63.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN stock traded down C$0.31 during trading hours on Tuesday, reaching C$6.86. 364,307 shares of the company traded hands, compared to its average volume of 184,394. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The firm has a 50-day moving average price of C$7.44 and a 200 day moving average price of C$8.01. The company has a market cap of C$485.28 million, a P/E ratio of 2.83 and a beta of 1.51.

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.