TSX:NXR.UN - Post Discussion
Post by
hawk35 on Aug 16, 2024 10:13am
From todays Globe and Mail
Desjardins Securities’ Kyle Stanley increased his target for units of Nexus Industrial REIT (
NXR.UN-T) to
$9.25 from $8.75 with a “buy” rating. Other changes include: Scotia’s Himanshu Gupta to
$9 from $8.50, which is the current average, with a “sector outperform” recommendation and Raymond James’ Brad Sturges to
$9.25 from $8.50 with an “outperform” rating.
“2Q24 results were in line,” said Mr. Stanley. “As the inflection in portfolio operating growth is now behind us, NXR appears well-positioned to benefit from a favourable gain-to-lease opportunity, development deliveries and an improving interest rate environment.
We expect a material step-change in FFOPU [funds from operations per unit] growth in 2025 (from a trough earnings year in 2024), which should persist into 2026—our model assumes a three-year FFOPU CAGR [compound annual growth rate] of 6 per cent.”
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