Nexus Industrial REIT (FRA:J6D)

Q1 2026 Nexus Industrial REIT Earnings Call Transcript

May 12, 2026 / 02:00 PM GMT

Release Date Price: €4.73 (-3.62%)

Transcript

Key Points

Positve

Nexus Industrial REIT (EFRTF) reported a healthy net operating income of $33.8 million, marking a 5.4% increase compared to the previous year.
The company achieved a normalized AFFO payout ratio of 96.6%, the first sub-100% payout ratio in 10 quarters.
Nexus Industrial REIT (EFRTF) received an investment-grade credit rating from DBRS, leading to a successful inaugural bond offering of $500 million.
The REIT completed approximately 41,000 square feet of new leases with an average rent lift of 32% over expiring rents.
The company successfully renewed 510,000 square feet of gross leasable area at an average increase of 7% over expiring rental rates.

Negative

The quarter experienced two unplanned vacancies, leading to a drop in occupancy to 95%.
A significant tenant vacated 88,000 square feet in London, resulting in a temporary vacancy and potential short-term financial impact.
The company faced a decrease in net income by $1 million compared to the previous year, primarily due to lower fair value adjustments on investment properties.
Interest expenses increased by $700,000 due to higher borrowings and lower capitalized interest.
The leasing environment has become more cautious, with some markets experiencing slower deal closures.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NXR_u.TO - Nexus Industrial REIT
Q1 2026 Nexus Industrial REIT Earnings Call
May 12, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. This is the conference operator. Welcome to the Nexus Industrial REIT First Quarter 2026 Results Conference Call.

As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press then 1 on your telephone keypad.

You'll hear a tone acknowledging your request. Should you need assistance during the conference call, you may reach an operator by pressing star then zero.

I would now like to turn the conference over to Kelly Hunsick, Chief Executive Officer. Please go ahead.

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