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

> Nexus Industrial REIT reported $31.9 million in third-quarter net income and a 95.6% normalized AFFO payout ratio, with industrial occupancy at 97%.

- Published: 2026-11-06T00:49:54+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-06/nexus-industrial-reit-q3-2026-results
- Source: [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/06/3397280/0/en/nexus-industrial-reit-announces-third-quarter-2026-financial-results.html)

## Key takeaways

- Nexus Industrial REIT reported third-quarter net income of $31.9 million, up from $3.4 million a year earlier.
- The REIT's normalized AFFO payout ratio improved to 95.6% from 106.9% a year earlier.
- Nexus completed a $300 million offering of 4.563% Series C senior unsecured debentures and used the proceeds to repay existing debt.

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](https://www.globenewswire.com/news-release/2026/11/06/3397280/0/en/nexus-industrial-reit-announces-third-quarter-2026-financial-results.html) on November 6, 2026. Industrial occupancy held at 97%.

## Nexus Industrial REIT's Third-Quarter Results

[Nexus Industrial REIT](https://akta.pro/company-profiles/003mbzk/nexus-real-estate-investment-trust) 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](https://akta.pro/company-data), 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.

## Companies in this story

- [Nexus Real Estate Investment Trust company profile](https://akta.pro/company-profiles/003mbzk/nexus-real-estate-investment-trust) · website: https://nexusreit.com/home

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