Nexus Industrial REIT (TSE:NXR.UN) Cut to “Neutral” at CIBC

Nexus Industrial REIT (TSE:NXR.UN) was downgraded by CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday,BayStreet.CA reports. They presently have a C$7.50 price objective on the stock, down from their previous price objective of C$8.50. CIBC’s price objective would indicate a potential upside of 0.54% from the company’s previous close.

NXR.UN has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 11th. National Bankshares increased their price target on shares of Nexus Industrial REIT from C$6.75 to C$7.25 and gave the company a “sector perform” rating in a research report on Thursday, May 22nd. Desjardins decreased their price objective on Nexus Industrial REIT from C$9.50 to C$8.75 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Raymond James raised their target price on shares of Nexus Industrial REIT from C$8.25 to C$8.50 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, Scotiabank raised their price target on Nexus Industrial REIT from C$7.00 to C$7.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$8.18.

Nexus Industrial REIT Stock Performance

NXR.UN opened at C$7.46 on Wednesday. The company has a debt-to-equity ratio of 129.95, a current ratio of 0.44 and a quick ratio of 0.12. The stock has a market cap of C$527.72 million, a P/E ratio of 3.08 and a beta of 1.51. Nexus Industrial REIT has a 1-year low of C$5.98 and a 1-year high of C$9.15. The stock’s 50 day simple moving average is C$6.97 and its 200 day simple moving average is C$7.27.

Insider Activity at Nexus Industrial REIT

In related news, Director Daniel Martin Oberste purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of C$7.54 per share, for a total transaction of C$37,675.00. Also, Director Edwin E. Mclaughlin purchased 3,651 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of C$7.20 per share, for a total transaction of C$26,295.60. Insiders have purchased 20,347 shares of company stock valued at $140,322 over the last ninety 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.