Raymond James Issues Pessimistic Forecast for Nexus Industrial REIT (TSE:NXR.UN) Stock Price

Nexus Industrial REIT (TSE:NXR.UN) had its price objective reduced by research analysts at Raymond James from C$9.75 to C$9.00 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 19.52% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. CIBC increased their price objective on Nexus Industrial REIT from C$9.00 to C$9.50 in a report on Wednesday, November 13th. BMO Capital Markets upped their target price on Nexus Industrial REIT from C$8.50 to C$9.00 in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$8.86.

Nexus Industrial REIT Stock Down 2.2 %

TSE:NXR.UN traded down C$0.17 during mid-day trading on Monday, reaching C$7.53. The stock had a trading volume of 83,012 shares, compared to its average volume of 98,601. The business’s 50 day moving average is C$7.89 and its 200 day moving average is C$8.02. Nexus Industrial REIT has a fifty-two week low of C$6.47 and a fifty-two week high of C$9.15. The stock has a market cap of C$532.67 million, a P/E ratio of 3.11 and a beta of 1.51. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12.

Insiders Place Their Bets

In related news, Director Edwin E. Mclaughlin acquired 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was bought at an average cost of C$7.88 per share, with a total value of C$393,845.00. Insiders have acquired 57,552 shares of company stock worth $454,832 over the last 90 days. 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.