Nexus Industrial REIT Net Income Jumps to $31.9 Million as Payout Ratio Falls to 95.6%

Nexus Industrial REIT reported third-quarter net income of $31.9 million, up from $3.4 million a year earlier, and a normalized AFFO payout ratio of 95.6%, the company said in its results announcement on November 6, 2026. Industrial occupancy held at 97%.

Nexus Industrial REIT's Third-Quarter Results

Nexus Industrial REIT is a Canadian pure-play industrial REIT that owns distribution, manufacturing, warehousing and logistics properties. Net operating income rose 7.8% to $34.7 million, and industrial same-property NOI grew 4.2% to $31.5 million. The REIT completed renewals of 225,480 square feet at an average spread of 29% over expiring and in-place rents.

"I am thrilled with our third quarter results, as we continued to make progress as a Canada-focused pure-play industrial REIT," said Kelly Hanczyk, CEO of Nexus Industrial REIT. "We also completed our third investment grade bond offering, raising $300 million, which lowers our cost of capital while reducing risk."

The $300 million offering comprised 4.563% Series C senior unsecured debentures due in 3.5 years, with proceeds used to repay existing indebtedness. Normalized FFO per unit rose $0.013 to $0.194, and normalized AFFO per unit rose $0.020 to $0.166. The REIT sold an industrial property in Red Deer, AB for $11.3 million.

Nexus Industrial REIT's Capital and Portfolio Figures

According to akta.pro company records, Nexus announced a $500 million inaugural unsecured debenture offering in April 2026, and its funding rounds on record total $361.7 million. The same records list 87 properties totaling 12.9 million square feet at a 95% portfolio occupancy rate. The REIT's own quarterly report lists 86 investment properties and 12.1 million square feet of gross leasable area at its ownership interest.

Earlier Nexus Industrial REIT Financing and Results Dates

Nexus completed a $300 million unsecured debenture offering maturing March 29, 2030, at a fixed annual interest rate of 4.563%, with proceeds to repay existing indebtedness, the Financial Post reported in September 2026. In October 2026, the Financial Post reported that Nexus would release its third-quarter results before the TSX opened on November 6, 2026, with a conference call at 10:00 AM Eastern Standard Time. MarketBeat reported in October 2026 that Nexus declared a monthly dividend of $0.0533 per share, payable November 13th to record holders, representing an annualized $0.64 per share.

Nexus Industrial REIT's November and December Distributions

Nexus will pay a cash distribution of $0.05333 per unit, or $0.64 per unit annualized, on December 15, 2026, to unitholders of record as of November 30, 2026. A second distribution of the same amount is payable January 15, 2027, to unitholders of record as of December 31, 2026. The REIT now expects 2026 industrial same-property NOI growth of 3% to 4%, compared with mid-single digit growth disclosed in the previous quarter.