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Nexus Real Estate Investment Trust (EFRTF)
:EFRTF
RESEARCH TOOLSreports
Earnings Data
Report Date
May 14, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.02Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 10, 2025
|% Change Since: -2.62%
|Next Earnings Date:May 14, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a strong strategic repositioning to focus on the industrial sector, with substantial NOI growth and successful development projects. However, challenges such as tenant credit risks and market slowdowns in Hamilton pose potential risks. The overall sentiment is balanced by strong financial results and strategic achievements.Company Guidance
During the Nexus Industrial REIT's Fourth Quarter 2024 Results Conference Call, the company provided guidance highlighting several key metrics. In 2024, Nexus transitioned to a Canadian-focused pure play industrial REIT, completing three industrial development projects and advancing two more. This included the Hubrey Road project contributing $300,000 of NOI in its first quarter, yielding an 8.4% first-year return on a $14 million investment. The Titan Park project added $500,000 of NOI in the quarter with a stabilized annual NOI of $3.8 million, representing a 7.9% cap rate on a $48 million investment. The Glover Road development in Hamilton is expected to yield $5.9 million on a $25 million investment, though leasing has been slower than anticipated. The company also advanced the Dennis Road project, slated for completion in Q3 2025, with an estimated 9% yield on development costs of $55 million. On asset sales, Nexus sold properties totaling $120 million at a blended cap rate of 7.1%, using proceeds to reduce debt. The REIT reported Q4 normalized FFO growth of 2.7% to $0.192 per unit and a total NOI increase of 10% year-over-year, resulting in a $32.1 million NOI for the quarter. Looking ahead to 2025, the company expects mid-single-digit industrial same property NOI growth, with 65% of leases expiring this year already renewed or near renewal, representing $3.2 million of additional NOI.Strategic Repositioning to Pure Play Industrial REIT
Nexus Industrial REIT completed its transition to a Canada-focused pure play industrial REIT by selling legacy office, retail, and non-core industrial assets, resulting in nearly 100% industrial net operating income (NOI).
Strong Net Operating Income Growth
Total net operating income increased by 10% year-over-year to $32.1 million in Q4, driven by acquisitions, organic growth, and development.
Successful Industrial Developments
Key projects include the Hubrey Road industrial project yielding 8.4% in its first year and the Titan Park property with a 7.9% cap rate. The Glover Road new build in Hamilton is expected to yield $5.9 million annually.
Significant Lease Renewals and Rent Escalations
Renewals achieved 32% growth in expiring rents, adding $3.2 million of additional NOI. Industrial same property NOI growth reached 4.7% for the year.
Financial Performance and Market Position
Net income increased significantly to $49.7 million, and NAV per unit improved to $13.19. The REIT has a strong presence in desirable markets like London and Calgary.
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EFRTF 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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EFRTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 10, 2025 | $4.97 | $4.96 | -0.20% |
| Nov 11, 2024 | $5.71 | $5.64 | -1.23% |
| Aug 15, 2024 | $5.22 | $5.33 | +2.11% |
| May 15, 2024 | $5.10 | $4.91 | -3.73% |
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 (EFRTF) report earnings?
Nexus Real Estate Investment Trust (EFRTF) is schdueled to report earning on May 14, 2025, TBA Not Confirmed.
What is Nexus Real Estate Investment Trust (EFRTF) earnings time?
Nexus Real Estate Investment Trust (EFRTF) earnings time is at May 14, 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 EFRTF EPS forecast?
Currently, no data Available
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