Rexford Industrial Realty (NYSE:REXR) PT Raised to $46.00

Rexford Industrial Realty (NYSE:REXR) had its price target upped by analysts at Barclays from $45.00 to $46.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential upside of 8.13% from the company’s previous close.

Several other brokerages also recently issued reports on REXR. Truist Financial cut their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, February 7th. Wedbush assumed coverage on shares of Rexford Industrial Realty in a research report on Monday. They set a “neutral” rating and a $45.00 price target for the company. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.73.

Rexford Industrial Realty Stock Down 2.7 %

REXR opened at $42.54 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.02. The stock has a market capitalization of $9.27 billion, a P/E ratio of 39.03, a P/E/G ratio of 1.90 and a beta of 0.86. The business has a 50 day simple moving average of $49.70 and a 200-day simple moving average of $50.51.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly 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 company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. Rexford Industrial Realty’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, equities analysts anticipate that Rexford Industrial Realty will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of REXR. Los Angeles Capital Management LLC grew its position in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 210 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Rexford Industrial Realty by 4.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 259 shares in the last quarter. Securian Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 330 shares in the last quarter. Xponance Inc. boosted its position in Rexford Industrial Realty by 1.5% during the third quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after purchasing an additional 359 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Rexford Industrial Realty by 0.7% in the fourth quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after purchasing an additional 407 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.