The Globe and Mail reports in its Friday, May 16, edition that National Bank Financial analyst Matt Kornack continues to rate Nexus Industrial REIT "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kornack gave his unit target a 50-cent boost to $7.25. Mr. Kornack says in a note: "Nexus Industrial REIT put up solid operating metrics in Q1 and completed its transition to a pure-play industrial REIT with less than a handful of office and retail properties remaining. The quarter came in slightly ahead of our estimates when adding back one-time transaction-related adjustments. Management maintained their outlook for mid-single-digit organic growth with a strong start from the Ontario portfolio, where known leasing contributed to a positive print (100-plus-per-cent leasing spreads), tenants currently in CCAA processes will dent this a bit in Q2 but leasing at development/expansion sites will be an offset. Trade remains a risk but for now the tone of discussions has been a little more favourable." The Globe reported on April 15 that Mr. Kornack had downgraded Nexus Industrial REIT to "sector perform" from "outperform." It was then worth $6.63.