Nexus Industrial REIT (TSE:NXR.UN) Rating Lowered to Sector Perform at Scotiabank

Nexus Industrial REIT (TSE:NXR.UN) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$7.00 price target on the stock, down from their previous price target of C$8.50. Scotiabank’s price target points to a potential upside of 5.42% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their target price 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 research note on Tuesday, March 11th. Raymond James lowered their price objective on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Finally, Desjardins reduced their target price on Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nexus Industrial REIT currently has an average rating of “Moderate Buy” and a consensus price target of C$8.38.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN stock opened at C$6.64 on Tuesday. The company’s 50 day moving average is C$7.08 and its 200 day moving average is C$7.72. The company has a quick ratio of 0.12, a current ratio of 0.44 and a debt-to-equity ratio of 129.95. The firm has a market cap of C$469.71 million, a price-to-earnings ratio of 2.74 and a beta of 1.51. Nexus Industrial REIT has a 52-week low of C$5.98 and a 52-week high of C$9.15.

Insider Transactions at Nexus Industrial REIT

In related news, Director Edwin E. Mclaughlin purchased 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of C$6.49 per share, with a total value of C$51,934.40. Corporate insiders own 32.92% of the company’s stock.

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.