Nexus Industrial REIT (NXR.UN:CA) delivered strong first-quarter 2026 results during its earnings conference call. Income rose to $33.8 million, reflecting a 5.4% increase year-over-year.
Key Participants
CEO and Trustee Kelly Hanczyk led the discussion, joined by CFO and Secretary Michael Rawle. Analysts from major firms participated, including Bradley Sturges from Raymond James Ltd., Kyle Stanley from Desjardins Securities Inc., Sam Damiani from TD Cowen, Khing Shan from RBC Capital Markets, and Tal Woolley from CIBC Capital Markets.
Financial Highlights
Normalized funds from operations (FFO) reached $17.7 million. Adjusted EBITDA over the last 12 months grew to $121.3 million.
This quarter marked the first in 10 quarters with a payout ratio below 100%, as normalized adjusted FFO payout stood at 96.6%. Normalized AFFO per unit hit $0.162, underscoring operational strength.
Net asset value (NAV) also showed growth.
CEO Remarks
Kelly Hanczyk welcomed participants to the Q1 2026 results call. She noted that certain statements reflect current expectations on future results and highlighted the use of non-GAAP measures. Investors can find details in the management’s discussion and analysis (MD&A) and other securities filings on the company’s website and SEDAR+.
