Rexford Industrial Realty (NYSE:REXR) Now Covered by Wedbush

Equities researchers at Wedbush assumed coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $45.00 price target on the real estate investment trust’s stock. Wedbush’s price objective would indicate a potential upside of 2.90% from the stock’s current price.

A number of other equities research analysts also recently commented on REXR. Barclays assumed coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price objective on the stock. Mizuho reissued a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $54.73.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $43.73 on Monday. The firm’s 50 day moving average price is $49.88 and its 200-day moving average price is $50.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The firm has a market cap of $9.53 billion, a P/E ratio of 40.12, a P/E/G ratio of 1.89 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. As a group, equities research analysts predict that Rexford Industrial Realty will post 2.33 EPS for the current year.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently made changes to their positions in REXR. GAMMA Investing LLC acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $41,000. Fifth Third Bancorp lifted its stake in shares of Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares during the period. Quarry LP lifted its stake in shares of Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 740 shares during the period. Principal Securities Inc. acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $96,000. Finally, Ninepoint Partners LP acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at about $108,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.