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Nexus Real Estate Investment Trust (TSE:NXR.UN)
TSX:NXR.UN
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Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.02Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 22, 2018
|% Change Since: -8.25%
|Next Earnings Date:Aug 21, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong strategic moves towards becoming a pure-play industrial REIT with an improved financial performance and successful development projects. However, these positives were tempered by a significant net loss and increased interest expenses. Market softness in certain regions adds a cautious note to the outlook.Company Guidance
In the Q3 2024 earnings call for Nexus Industrial REIT, the company provided guidance on its strategic focus and financial performance. The REIT has been actively working to optimize its portfolio by divesting non-core assets, including the sale of 8 Montreal office properties and other office and retail assets, targeting $110 million in non-core asset sales to deleverage its balance sheet. These actions are part of its transition to a pure-play industrial REIT, aiming for an industrial NOI concentration nearing 100%. Financially, the REIT reported a 5.6% increase in normalized FFO to $0.188 per unit and a 6.8% rise in normalized AFFO to $0.158 per unit, driven by a 3% increase in net operating income compared to the previous quarter. The company highlighted successful developments, such as the Titan Park project contributing $500,000 in NOI, and projected continued growth through strategic acquisitions and rent lifts on renewals, with market rents averaging 26% above in-place rents.Strategic Asset Sales and Focus on Industrial Sector
Nexus Industrial REIT is selling its legacy office and retail portfolios to focus on the industrial sector. The sales are expected to generate approximately $110 million in the second half of 2024, which will be used to reduce debt and achieve nearly 100% industrial NOI concentration.
Improved Financial Performance
Normalized FFO improved by 5.6% to $0.188 per unit, and normalized AFFO improved by 6.8% to $0.158 per unit. Net operating income increased by 11% compared to a year ago, driven by acquisitions, organic growth, and development.
Successful Development Projects
The Titan Park development in Saskatchewan was completed on schedule and below budget, contributing $500,000 of NOI. The Hungry Road industrial intensification project in London, Ontario is yielding 8.4% in the first year.
Positive Outlook for Rent Escalations
The average market rents are 26% above in-place rents, indicating a potential for healthy rent lifts on renewals in the future.
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Nexus Real Estate Investment (TSE:NXR.UN) Earnings, Revenues Date & History
TSE:NXR.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:NXR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | C$8.10 | C$8.01 | -1.10% |
| Aug 15, 2024 | C$7.21 | C$7.43 | +2.95% |
| May 15, 2024 | C$7.06 | C$6.76 | -4.29% |
| Mar 14, 2024 | C$7.27 | C$7.16 | -1.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Nexus Real Estate Investment Trust (TSE:NXR.UN) report earnings?
Nexus Real Estate Investment Trust (TSE:NXR.UN) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Nexus Real Estate Investment Trust (TSE:NXR.UN) earnings time?
Nexus Real Estate Investment Trust (TSE:NXR.UN) earnings time is at Mar 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:NXR.UN EPS forecast?
Currently, no data Available
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