Nexus Real Estate Investment Trust (TSE:NXR.UN)
TSX:NXR.UN
Earnings Data
Report Date
May 12, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.35Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operating and strategic picture: record NOI and adjusted EBITDA, strong leasing activity (1.2M sq ft YTD with 60% average leasing spread), high industrial occupancy (96%), accretive developments and opportunistic acquisitions with mark-to-market gains, and active capital recycling to reduce leverage. Key negatives include an accounting-driven decline in reported net income due to fair-value adjustments, slightly lower normalized AFFO year-over-year, elevated debt/EBITDA (~11x) with an explicit need to delever to mid-9s to reach investment-grade, and several execution/tenant setbacks (a tenant reneging, a buyer dropping a deal, and impacts from tenant insolvencies). On balance the operational momentum, strong leasing metrics, successful portfolio transformation to a pure-play industrial REIT, and clear deleveraging plan outweigh the accounted losses and financing risks.Company Guidance
Record Operating and EBITDA Performance
Full-year 2025 record net operating income (NOI) of $129 million, up 2.8% year-over-year, and record adjusted EBITDA of $120 million.
Per-Unit Metrics and NAV Growth
FFO per unit increased to $0.61 for the full year; Q4 NAV per unit was $13.22 (up $0.03 from prior quarter).
Industrial Portfolio Focus and Capital Raised
Completed sale of retail portfolio raising $47 million; REIT is now a pure-play industrial operator with ~99% of NOI from industrial assets.
Completed Developments Delivering Strong Yields
70 Dennis Road (St. Thomas) 325,000 sq ft completed in Sept: earning a 9% contractual yield on $55M development cost. 4750 102 Ave (Calgary) 115,000 sq ft cost $15M with 5 of 9 units leased and expected stabilized cash return ~11%.
Accretive Acquisitions with Mark-to-Market Upside
Two Montreal industrial buildings acquired for $40.1M (283,000 sq ft, ~$145/sq ft) at a 6.6% going-in cap rate; lease resets in 2028 imply a stabilized cap rate ~10.4%; year-end appraisal produced approx. $23M mark-to-market lift.
Strong Leasing Activity and Occupancy
Year-to-date leasing of ~1.2 million sq ft with an average leasing spread of 60% over expiring/in-place rents; Q4 renewals ~117,000 sq ft at an average rent lift of 2%; industrial occupancy steady at 96% in Q4.
Operating NOI and Quarter-on-Quarter FFO/AFFO Improvement
Q4 NOI up 2.7% year-over-year to $33 million; normalized FFO grew 3.3% versus Q3 to $0.186 per unit and normalized AFFO rose 3.4% quarter-over-quarter to $0.151 per unit.
Active Capital Recycling and Debt Reduction
Multiple opportunistic sales (land and industrial assets) with proceeds applied to deleveraging; recent disposals include land for $8.5M and a Feb 20 Calgary sale for $8.5M; company targets mid-single-digit same-property NOI growth in 2026 and aims to reach investment-grade by reducing leverage.
Development Pipeline for 2026
Announced Adams Road (Kelowna) micro-industrial up to 180,000 sq ft (~$47M) targeting 7–10% blended returns and Savage Road (Richmond) adding 28,000 sq ft (to bring total to 80,000 sq ft) with estimated incremental cost ~$19M and contractual yields on portions funded by units.
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
TSE:NXR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 06, 2026 | C$7.73 | C$7.55 | -2.30% |
Nov 13, 2025 | C$7.56 | C$7.39 | -2.17% |
Aug 11, 2025 | C$7.37 | C$7.44 | +0.91% |
May 14, 2025 | C$6.56 | C$6.69 | +1.97% |
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.
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 May 12, 2026, TBA (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 May 12, 2026, TBA (Confirmed).
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What is TSE:NXR.UN EPS forecast?
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