The Globe and Mail reports in its Thursday, Nov. 14, edition that RBC Capital Markets analyst Jimmy Shan has reaffirmed his "sector perform" recommendation for Nexus Industrial REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shan raised his unit target for Nexus Industrial to $9 from $8.50. Analysts on average target the units at $9.08. Mr. Shan says in a note: "Nexus Industrial reported FFO/unit (normalized) of 18.8 cents, vs. RBC/Consensus estimates of 18.4 cents to 18.3 cents. ... Nexus Industrial is making steady progress on three key fronts: 1) Payout ratio improved to 101 per cent vs. 108 per cent in Q2; 2) More office assets were sold furthering its pure-play industrial status; and 3) 2025 is a relatively big year for lease renewals at large spreads -- we estimate 5.5-per-cent SP NOI [same property net operating income] growth, with growth supplemented by development activity, resulting in 2025E FFO growth of 10 per cent. Valuation looks fair on a relative basis, trading at a tighter discount than LTA vs. industrial peers." The Globe reported on Aug. 16 that TD Cowen analyst Aaron MacNeil was sticking with his "hold" call on Nexus Industrial. It was then trading at $7.83.