Nexus Industrial REIT (TSE:NXR.UN) Price Target Raised to C$9.50 at CIBC

Nexus Industrial REIT (TSE:NXR.UNGet Free Report) had its price target raised by investment analysts at CIBC from C$9.00 to C$9.50 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 18.90% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. Desjardins upped their target price on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the stock a “buy” rating in a research note on Friday, August 16th. National Bankshares raised shares of Nexus Industrial REIT from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$7.50 to C$8.00 in a research note on Thursday, July 18th. Scotiabank upped their price objective on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, BMO Capital Markets increased their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$8.92.

Check Out Our Latest Research Report on NXR.UN

Nexus Industrial REIT Price Performance

Shares of Nexus Industrial REIT stock traded down C$0.13 on Wednesday, hitting C$7.99. 288,755 shares of the company traded hands, compared to its average volume of 148,578. Nexus Industrial REIT has a 12-month low of C$6.47 and a 12-month high of C$9.15. The firm’s 50-day simple moving average is C$8.63 and its 200 day simple moving average is C$7.78. The company has a market cap of C$565.21 million, a P/E ratio of 3.31 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.

Insider Buying and Selling at Nexus Industrial REIT

In other Nexus Industrial REIT news, Director Edwin E. Mclaughlin acquired 57,120 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average price of C$8.76 per share, with a total value of C$500,296.94. In related news, Director Edwin E. Mclaughlin acquired 53,000 shares of Nexus Industrial REIT stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of C$8.45 per share, with a total value of C$448,024.90. Also, Director Edwin E. Mclaughlin acquired 57,120 shares of the stock in a transaction on Friday, October 4th. The shares were bought at an average price of C$8.76 per share, with a total value of C$500,296.94. Over the last 90 days, insiders bought 115,746 shares of company stock valued at $997,785. 32.92% of the stock is currently owned by company insiders.

About Nexus Industrial REIT

(Get Free Report)

Nexus 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 located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.

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Analyst Recommendations for Nexus Industrial REIT (TSE:NXR.UN)

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