Nexus is nearly a pure-play industrial REIT with diversified assets across Canada, delivering strong 6.6% NOI and 12% FFO growth year-over-year. AFFO payout ratio remains elevated but is improving, with management guiding for mid-single digit same property NOI growth in 2025. Insider buys and a big margin of safety gets us back to the buy side.
Nexus Industrial REIT's Q4 results show a fully covered dividend, with a 10% NOI increase and normalized AFFO of C$0.161 per share. The REIT's distribution of C$0.64 per share annually is now (barely) covered, with potential for rent hikes boosting future AFFO. Significant rental income growth is expected in Ontario and Quebec due to market rent increases, aiding in debt reduction and development funding.
Nexus Industrial REIT (OTC:EFRTF) Q4 2024 Earnings Conference Call March 10, 2025 10:00 AM ET Company Participants Kelly Hanczyk - CEO Mike Rawle - CFO Conference Call Participants Brad Sturges - Raymond James Sam Damiani - TD Cowen Kyle Stanley - Desjardins Himanshu Gupta - Scotiabank Jimmy Chen - RBC Capital Markets Operator Thank you for standing by. This is the conference operator.
![]() EFRTF 1 weeks ago Announced | Monthly | $0.04 Per Share |
![]() EFRTF 1 month ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 2 months ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 3 months ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 4 months ago Paid | Monthly | $0.04 Per Share |
14 Aug 2025 (In 1 month) Date | | - Cons. EPS | - EPS |
12 May 2025 Date | | - Cons. EPS | 0.24 EPS |
11 Mar 2025 Date | | - Cons. EPS | 0.38 EPS |
12 Nov 2024 Date | | - Cons. EPS | - EPS |
15 Aug 2024 Date | | - Cons. EPS | - EPS |
![]() EFRTF 1 weeks ago Announced | Monthly | $0.04 Per Share |
![]() EFRTF 1 month ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 2 months ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 3 months ago Paid | Monthly | $0.04 Per Share |
![]() EFRTF 4 months ago Paid | Monthly | $0.04 Per Share |
14 Aug 2025 (In 1 month) Date | | - Cons. EPS | - EPS |
12 May 2025 Date | | - Cons. EPS | 0.24 EPS |
11 Mar 2025 Date | | - Cons. EPS | 0.38 EPS |
12 Nov 2024 Date | | - Cons. EPS | - EPS |
15 Aug 2024 Date | | - Cons. EPS | - EPS |
XDUS Exchange | CA Country |
Nexus is an ambitious real estate investment trust (REIT), primarily engaged in both increasing the value for its unitholders and expanding its portfolio through strategic acquisitions of industrial properties. With its operations rooted in Canada, Nexus aims at capitalizing on opportunities in both primary and secondary markets. Currently, the REIT boasts ownership of 116 properties, including two development projects in which it holds an 80% interest, amassing around 12.4 million square feet of gross leasable area. As a testament to its growth and investor confidence, Nexus has around 93,038,000 voting units outstanding, divided into approximately 68,427,000 REIT Units and about 24,611,000 Class B LP Units. These LP Units, issued by subsidiary limited partnerships, are convertible to REIT Units on a one-to-one basis, highlighting Nexus’s fluid and investor-friendly structure.
Nexus focuses on the strategic acquisition of industrial properties within Canada. This endeavor is aimed at identifying and securing valuable real estate in both primary and secondary markets, thereby ensuring growth and diversification of its portfolio. The REIT’s acquisition strategy is designed to target assets that promise high returns and growth potential, underlining Nexus’s commitment to increasing unitholder value.
The REIT not only acquires but also owns and manages a diverse portfolio of industrial properties. With ownership extending to 116 properties, including two development projects, Nexus ensures that its gross leasable area — totalling approximately 12.4 million square feet — is managed with utmost efficiency and professionalism. The firm's property management strategies are focused on maximizing occupancy rates, optimizing operating costs, and enhancing the value of its real estate assets, thereby ensuring robust returns for its unitholders.
Nexus offers substantial investment opportunities through its various classes of units. With approximately 93,038,000 voting units, including REIT Units and Class B LP Units, the REIT provides a flexible investment platform. These investment vehicles permit unitholders to participate in the ownership and growth of Nexus’s real estate portfolio. The availability of Class B LP Units, convertible on a one-to-one basis to REIT Units, further amplifies the investment flexibility, offering a compelling proposition for prospective investors looking to leverage the real estate market’s potential.