Nexus Industrial REIT (TSE:NXR.UN) Stock Rating Lowered by National Bankshares

Nexus Industrial REIT (TSE:NXR.UN) was downgraded by research analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$6.75 price objective on the stock, down from their prior price objective of C$8.75. National Bankshares’ price target points to a potential upside of 5.30% from the stock’s current price.

Several other brokerages also recently issued reports on NXR.UN. Desjardins lowered their price objective on shares of 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. Royal Bank of Canada decreased their price objective on Nexus Industrial REIT from C$9.00 to C$8.75 and set a “sector perform” rating for the company in a research report on Tuesday, March 11th. Raymond James dropped their target price on Nexus Industrial REIT from C$9.00 to C$8.50 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Scotiabank downgraded Nexus Industrial REIT from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$8.50 to C$7.00 in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nexus Industrial REIT currently has an average rating of “Moderate Buy” and a consensus target price of C$8.22.

Nexus Industrial REIT Stock Performance

Shares of NXR.UN stock traded up C$0.06 during trading hours on Monday, hitting C$6.41. The stock had a trading volume of 137,646 shares, compared to its average volume of 203,262. 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 firm has a market capitalization of C$453.44 million, a PE ratio of 2.65 and a beta of 1.51. The stock’s 50 day moving average is C$7.04 and its 200 day moving average is C$7.68. Nexus Industrial REIT has a twelve month low of C$5.98 and a twelve month high of C$9.15.

Insiders Place Their Bets

In other news, Director Edwin E. Mclaughlin purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of C$6.49 per share, with a total value of C$51,934.40. 32.92% of the stock is currently owned by company insiders.

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.