TSX:NXR.UN - Post Discussion
Post by
retiredcf on May 19, 2023 7:59am
Raymond James
Raymond James’ Brad Sturges lowered his target for Nexus Industrial REIT target to $12 from $12.50 with a “strong buy” rating. The average is $11.98.
“Nexus has several avenues to transform the quality and growth profile of its Canadian industrial portfolio through its various strategic initiatives: 1) the acquisition of high-quality industrial real estate in targeted Canadian primary and secondary markets; 2) starting development and expansion projects on existing excess land; and 3) the executed sale of non-core industrial and non-industrial assets,” said Mr. Sturges. “As Nexus successfully executes its 3-pronged strategy, we believe the REIT can re-rate to a higher P/AFFO multiple to reflect its improved quality and growth prospects.”
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