Nexus Industrial REIT T.NXR.UN

RE:RE:Raymond James increases target price again

[Larrymartin77]

Karren411 wrote:

hawk35 wrote:
To reflect its improved valuation, Raymond James analyst Brad Sturges cut Nexus Real Estate Investment Trust (NXR.UN-T) to “outperform” from “strong buy” with a $14.50 target, up from $14. The average is $14.19.

“That said, we still hold a favourable view for Nexus, given its strong execution in 2021 year-to-date on the acquisition front that increased its industrial asset exposure, its P/AFFO multiple discount valuation, and based on possible NAV accretion from identified near-term value creation projects completed in the next 12-24 months,” he said.

Thanks for the update Hawk.  Cheers

I think the $14.50 target price is reflecting a 4.5% cap rate on the portfolio. All the best