Declared Dividend • May 17
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 29th May 2026 Payment date: 15th June 2026 Dividend yield will be 8.3%, which is higher than the industry average of 3.4%. Reported Earnings • May 13
First quarter 2026 earnings released First quarter 2026 results: Revenue: CA$46.0m (up 2.6% from 1Q 2025). Net income: CA$32.2m (down 2.9% from 1Q 2025). Profit margin: 70% (down from 74% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 13
Nexus Industrial REIT Announces Cash Distributions for the Month of May and June, Payable on June 15, 2026 and July 15, 2026 Respectively Nexus Industrial REIT announced that the REIT will make a cash distribution for May in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable June 15, 2026, to unitholders of record as of May 29, 2026. The REIT will also make a cash distribution for June in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable July 15, 2026, to unitholders of record as of June 30, 2026. New Risk • May 13
New major risk - Revenue and earnings growth Earnings have declined by 1.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (144% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Declared Dividend • Apr 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th April 2026 Payment date: 15th May 2026 Dividend yield will be 7.9%, which is higher than the industry average of 3.4%. Announcement • Apr 10
Nexus Industrial REIT to Report Q1, 2026 Results on May 12, 2026 Nexus Industrial REIT announced that they will report Q1, 2026 results Pre-Market on May 12, 2026 Recent Insider Transactions Derivative • Mar 22
CEO & Trustee exercised options to buy CA$67k worth of stock. On the 16th of March, Kelly Hanczyk exercised options to buy 9k shares at a strike price of around CA$7.52, costing a total of CA$67k. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. Since March 2025, Kelly's direct individual holding has decreased from 535.21k shares to 439.64k. Company insiders have collectively bought CA$2.2m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Mar 20
CEO & Trustee exercised options to buy CA$67k worth of stock. On the 16th of March, Kelly Hanczyk exercised options to buy 9k shares at a strike price of around CA$7.52, costing a total of CA$67k. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. Since March 2025, Kelly's direct individual holding has decreased from 535.21k shares to 439.64k. Company insiders have collectively bought CA$2.2m more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Mar 15
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st March 2026 Payment date: 15th April 2026 Dividend yield will be 8.6%, which is higher than the industry average of 3.4%. Announcement • Mar 09
Nexus Industrial REIT, Annual General Meeting, May 11, 2026 Nexus Industrial REIT, Annual General Meeting, May 11, 2026. New Risk • Mar 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 34% Last year net profit margin: 51% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Dividend is not well covered by cash flows (144% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Reported Earnings • Mar 08
Full year 2025 earnings released Full year 2025 results: Revenue: CA$174.9m (down 1.5% from FY 2024). Net income: CA$59.5m (down 35% from FY 2024). Profit margin: 34% (down from 51% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 15
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 27th February 2026 Payment date: 13th March 2026 Dividend yield will be 8.2%, which is higher than the industry average of 3.4%. Declared Dividend • Jan 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 7.9%, which is higher than the industry average of 3.4%. Announcement • Jan 09
Nexus Industrial REIT to Report Q4, 2025 Results on Mar 06, 2026 Nexus Industrial REIT announced that they will report Q4, 2025 results Pre-Market on Mar 06, 2026 Announcement • Dec 20
Nexus Industrial REIT Announces January and February 2026 Distributions, Payable on February 13, 2026 and March 13, 2026 Nexus Industrial REIT announced the declaration of the January and February 2026 distributions. The REIT will make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable February 13, 2026 to unitholders of record as of January 30, 2026. The REIT will also make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable March 13, 2026 to unitholders of record as of February 27, 2026. Declared Dividend • Dec 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 8.3%, which is higher than the industry average of 3.4%. Declared Dividend • Nov 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th November 2025 Payment date: 15th December 2025 Dividend yield will be 8.3%, which is higher than the industry average of 3.4%. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 276% Cash payout ratio: 264% Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Declared Dividend • Oct 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st October 2025 Payment date: 14th November 2025 Dividend yield will be 8.2%, which is higher than the industry average of 3.4%. Buy Or Sell Opportunity • Oct 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to CA$7.74. The fair value is estimated to be CA$9.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 8.5% in 2 years. Earnings are forecast to grow by 113% in the next 2 years. Announcement • Oct 04
Nexus Industrial REIT to Report Q3, 2025 Results on Nov 13, 2025 Nexus Industrial REIT announced that they will report Q3, 2025 results Pre-Market on Nov 13, 2025 Declared Dividend • Sep 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 8.2%, which is higher than the industry average of 3.4%. Buy Or Sell Opportunity • Sep 08
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at CA$7.60. The fair value is estimated to be CA$9.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 8.5% in 2 years. Earnings are forecast to grow by 113% in the next 2 years. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$183.6m to CA$178.2m. EPS estimate also fell from CA$0.77 per share to CA$0.56 per share. Net income forecast to grow 97% next year vs 8.7% decline forecast for Industrial REITs industry in Canada. Consensus price target up from CA$8.03 to CA$8.25. Share price was steady at CA$7.93 over the past week. Declared Dividend • Aug 17
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 8.1%, which is higher than the industry average of 3.4%. Reported Earnings • Aug 13
Second quarter 2025 earnings released: FFO per share: CA$0.3 (vs CA$0.23 in 2Q 2024) Second quarter 2025 results: FFO per share: CA$0.3 (up from CA$0.23 in 2Q 2024). Revenue: CA$42.2m (down 4.1% from 2Q 2024). Funds from operations (FFO): CA$18.2m (up 9.5% from 2Q 2024). FFO margin: 43% (up from 38% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
Nexus Industrial REIT Announces Cash Distribution for the September and October 2025, Payable on October 15, 2025 and November 14, 2025 Nexus Industrial REIT will make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable October 15, 2025, to unitholders of record as of September 30, 2025. The REIT will also make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable November 14, 2025, to unitholders of record as of October 31, 2025. Declared Dividend • Jul 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st July 2025 Payment date: 15th August 2025 Dividend yield will be 8.2%, which is higher than the industry average of 3.4%. Recent Insider Transactions Derivative • Jul 15
CFO & Secretary exercised options to buy CA$120k worth of stock. On the 8th of July, Michael Rawle exercised options to buy 15k shares at a strike price of around CA$7.74, costing a total of CA$118k. This transaction amounted to 75% of their direct individual holding at the time of the trade. Since December 2024, Michael's direct individual holding has increased from 12.50k shares to 20.22k. Company insiders have collectively bought CA$2.6m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jul 13
Nexus Industrial REIT Announces Dividend for the Month of July and August , Payable on August 15, 2025 and September 15, 2025 Respectively Nexus Industrial REIT announced to make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable August 15, 2025, to unitholders of record as of July 31, 2025. The REIT will also make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable September 15, 2025, to unitholders of record as of August 29, 2025. Buy Or Sell Opportunity • Jul 13
Now 21% undervalued Over the last 90 days, the stock has risen 22% to CA$7.90. The fair value is estimated to be CA$10.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 3.7% in a year. Earnings are forecast to decline by 12% in the next year. Announcement • Jul 12
Nexus Industrial REIT to Report Q2, 2025 Results on Aug 12, 2025 Nexus Industrial REIT announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Buy Or Sell Opportunity • Jun 17
Now 21% undervalued Over the last 90 days, the stock has risen 4.7% to CA$7.36. The fair value is estimated to be CA$9.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 3.7% in a year. Earnings are forecast to decline by 12% in the next year. Declared Dividend • Jun 15
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 8.7%, which is higher than the industry average of 3.4%. Buy Or Sell Opportunity • May 30
Now 21% undervalued Over the last 90 days, the stock has risen 2.4% to CA$7.35. The fair value is estimated to be CA$9.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 3.7% in a year. Earnings are forecast to decline by 12% in the next year. Major Estimate Revision • May 22
Consensus EPS estimates increase by 35%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CA$187.3m to CA$184.3m. EPS estimate rose from CA$0.57 to CA$0.77. Net income forecast to shrink 12% next year vs 11% decline forecast for Industrial REITs industry in Canada. Consensus price target broadly unchanged at CA$8.14. Share price was steady at CA$7.11 over the past week. Declared Dividend • May 18
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 8.7%, which is higher than the industry average of 3.4%. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: CA$44.8m (up 7.0% from 1Q 2024). Net income: CA$33.2m (down 24% from 1Q 2024). Profit margin: 74% (down from 104% in 1Q 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 13% per year. Buy Or Sell Opportunity • May 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.2% to CA$6.92. The fair value is estimated to be CA$8.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 7.3%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to decline by 35% in the next 2 years. Declared Dividend • Apr 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 30th April 2025 Payment date: 15th May 2025 Dividend yield will be 9.6%, which is higher than the industry average of 3.4%. Announcement • Apr 03
Nexus Industrial REIT to Report Q1, 2025 Results on May 15, 2025 Nexus Industrial REIT announced that they will report Q1, 2025 results Pre-Market on May 15, 2025 Recent Insider Transactions Derivative • Mar 21
CEO & Trustee exercised options to buy CA$65k worth of stock. On the 18th of March, Kelly Hanczyk exercised options to buy 9k shares at a strike price of around CA$6.98, costing a total of CA$65k. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. Since March 2024, Kelly's direct individual holding has increased from 478.35k shares to 506.43k. Company insiders have collectively bought CA$3.6m more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Mar 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 9.1%, which is higher than the industry average of 3.4%. Reported Earnings • Mar 10
Full year 2024 earnings released Full year 2024 results: Revenue: CA$175.7m (up 11% from FY 2023). Net income: CA$90.9m (down 43% from FY 2023). Profit margin: 52% (down from 101% in FY 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Mar 04
Nexus Industrial REIT, Annual General Meeting, May 14, 2025 Nexus Industrial REIT, Annual General Meeting, May 14, 2025. Declared Dividend • Feb 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 8.7%, which is higher than the industry average of 3.4%. Declared Dividend • Jan 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 8.6%, which is higher than the industry average of 3.4%. Declared Dividend • Dec 14
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 8.1%, which is higher than the industry average of 3.4%. Major Estimate Revision • Nov 18
Consensus EPS estimates fall by 51% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CA$1.19 to CA$0.58 per share. Revenue forecast steady at CA$177.2m. Net income forecast to grow 31% next year vs 3.8% growth forecast for Industrial REITs industry in Canada. Consensus price target broadly unchanged at CA$9.14. Share price fell 2.6% to CA$8.00 over the past week. Declared Dividend • Nov 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 29th November 2024 Payment date: 13th December 2024 Dividend yield will be 8.0%, which is higher than the industry average of 3.4%. New Risk • Nov 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 25% Last year net profit margin: 91% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (127% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (25% net profit margin). Reported Earnings • Nov 12
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: CA$45.5m (up 14% from 3Q 2023). Net loss: CA$46.0m (down 160% from profit in 3Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 29
Now 20% undervalued Over the last 90 days, the stock has risen 9.0% to CA$8.45. The fair value is estimated to be CA$10.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 9.9%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to decline by 64% in the next 2 years. Declared Dividend • Oct 16
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 7.3%, which is higher than the industry average of 3.4%. Announcement • Oct 11
An undisclosed buyer acquired 50% stake in Old Montreal Office Portfolio from Nexus Industrial REIT (TSX:NXR.UN). An undisclosed buyer acquired 50% stake in Old Montreal Office Portfolio from Nexus Industrial REIT (TSX:NXR.UN) on October 10, 2024. The REIT intends to use the net proceeds to repay existing indebtedness on its credit facility.
An undisclosed buyer completed the acquisition of 50% stake in Old Montreal Office Portfolio from Nexus Industrial REIT (TSX:NXR.UN) on October 10, 2024. Announcement • Oct 08
Nexus Industrial REIT Announces the Appointment of Mary Vitug to Its Board of Trustees Nexus Industrial REIT announced the appointment of Mary Vitug to the Board of Trustees, effective October 7, 2024. Ms. Vitug brings over 30 years of capital markets experience, including 24 years at Scotiabank as a Managing Director in Investment Banking and Equity Capital Markets. Mary has successfully led numerous initial public offerings, mergers and acquisitions, and equity financings with a strategic focus on real estate, consumer and retail, industrial, and financial institutions. For over 20 years, Ms. Vitug was a member of Scotiabank’s Equity Liability Committee, responsible for evaluating risk and allocating capital for global financings. Currently, Ms. Vitug serves as a Director of StorageVault Canada Inc., a Trustee of Slate Grocery REIT and an Advisor to Nicola Wealth. Mary was a member of the Board of VersaFi (formerly WCM) for over a decade, most recently holding the position of Board Chair. She is a recognized leader in diversity, equity, and inclusion. Ms. Vitug is a Chartered Professional Accountant, holds a Bachelor of Arts in Economics from the University of Toronto and a Master of Business Administration from the Rotman School of Management. Declared Dividend • Sep 29
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 7.2%, which is higher than the industry average of 3.4%. Upcoming Dividend • Sep 23
Upcoming dividend of CA$0.053 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. Trailing yield: 7.2%. Within top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (3.2%). Buy Or Sell Opportunity • Sep 18
Now 21% undervalued Over the last 90 days, the stock has risen 35% to CA$8.92. The fair value is estimated to be CA$11.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 9.9%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to decline by 64% in the next 2 years. New Risk • Sep 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings are forecast to decline by an average of 46% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (132% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Declared Dividend • Sep 09
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 7.6%, which is higher than the industry average of 3.4%. New Risk • Aug 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings are forecast to decline by an average of 46% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (132% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Upcoming Dividend • Aug 23
Upcoming dividend of CA$0.053 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 16 September 2024. Trailing yield: 7.7%. Within top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (3.2%). Major Estimate Revision • Aug 21
Consensus EPS estimates increase by 42% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CA$172.9m to CA$178.3m. EPS estimate increased from CA$0.84 to CA$1.19 per share. Net income forecast to shrink 48% next year vs 1.2% decline forecast for Industrial REITs industry in Canada. Consensus price target up from CA$8.43 to CA$8.80. Share price rose 7.5% to CA$8.03 over the past week. Reported Earnings • Aug 16
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: CA$43.9m (up 13% from 2Q 2023). Net income: CA$43.5m (down 44% from 2Q 2023). Profit margin: 99% (down from 199% in 2Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Industrial REITs industry in North America. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 22
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 8.2%, which is higher than the industry average of 3.4%. Announcement • Jul 12
Nexus Industrial REIT Announces the Demise of Board Trustee Louie DiNunzio Nexus Industrial REIT is deeply saddened by the sudden passing of Board Trustee Louie DiNunzio on June 1, 2024. Mr. DiNunzio served on the Nexus Industrial REIT Board of Trustees with distinction since October 2021. He chaired the Governance, Compensation, and Nominating Committee. Mr. DiNunzio was an expert in operations, finance and governance in the real estate industry, and his contributions as a Trustee were greatly valued. The Board highly respected and appreciated the extensive experience that he brought to the boardroom table. He was also a great mentor to the REIT’s executives, offering counsel and advice freely. Buy Or Sell Opportunity • Jul 05
Now 19% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to CA$7.00. The fair value is estimated to be CA$8.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 9.9% in a year. Earnings are forecast to decline by 62% in the next year. Buy Or Sell Opportunity • Jun 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to CA$6.62. The fair value is estimated to be CA$8.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 9.9% in a year. Earnings are forecast to decline by 62% in the next year. New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Earnings are forecast to decline by an average of 67% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (100% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Declared Dividend • Jun 02
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 9.1%, which is higher than the industry average of 3.4%. Upcoming Dividend • May 27
Upcoming dividend of CA$0.053 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 14 June 2024. Trailing yield: 9.0%. Within top quartile of Canadian dividend payers (6.4%). Higher than average of industry peers (3.8%). Major Estimate Revision • May 22
Consensus EPS estimates increase by 35%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CA$176.8m to CA$172.9m. EPS estimate rose from CA$0.62 to CA$0.84. Net income forecast to shrink 62% next year vs 11% decline forecast for Industrial REITs industry in Canada. Consensus price target down from CA$8.69 to CA$8.31. Share price fell 4.0% to CA$7.16 over the past week. Reported Earnings • May 16
First quarter 2024 earnings released First quarter 2024 results: Revenue: CA$41.6m (up 11% from 1Q 2023). Net income: CA$43.7m (up CA$40.0m from 1Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Industrial REITs industry in North America. Declared Dividend • May 12
Dividend of CA$0.053 announced Shareholders will receive a dividend of CA$0.053. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 8.6%, which is higher than the industry average of 3.4%. Announcement • May 09
Nexus Industrial REIT Announces May and June Distributions, Payable on June 14, 2024 and July 15, 2024 Respectively Nexus Industrial REIT announced the declaration of the May and June 2024 distributions. The REIT will make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable June 14, 2024, to unitholders of record as of May 31, 2024. The REIT will also make a cash distribution in the amount of $0.05333 per unit, representing $0.64 per unit on an annualized basis, payable July 15, 2024, to unitholders of record as of June 28, 2024. Announcement • May 01
Nexus Industrial REIT to Report Q1, 2024 Results on May 15, 2024 Nexus Industrial REIT announced that they will report Q1, 2024 results Pre-Market on May 15, 2024 Upcoming Dividend • Apr 22
Upcoming dividend of CA$0.053 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 15 May 2024. Trailing yield: 9.1%. Within top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (3.9%). 
