Nexus Industrial REIT (TSE:NXR.UN) Price Target Lowered to C$8.75 at Desjardins

Nexus Industrial REIT (TSE:NXR.UN) had its price objective cut by stock analysts at Desjardins from C$9.50 to C$8.75 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 24.64% from the stock’s previous close.

NXR.UN has been the subject of several other reports. CIBC raised 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 lowered their target price 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. Finally, Royal Bank of Canada lowered their target price on 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on 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 Stock Up 0.9 %

Shares of TSE NXR.UN opened at C$7.02 on Tuesday. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The company has a market cap of C$496.59 million, a P/E ratio of 2.90 and a beta of 1.51. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. The stock has a fifty day moving average price of C$7.42 and a 200 day moving average price of C$8.00.

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.