Rexford Industrial Realty (NYSE:REXR) Lowered to In-Line Rating by Evercore ISI

Rexford Industrial Realty (NYSE:REXR) was downgraded by Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued on Friday, Marketbeat reports. They presently have a $38.00 price target on the real estate investment trust’s stock, down from their previous price target of $39.00. Evercore ISI’s price objective suggests a potential upside of 7.19% from the company’s current price.

A number of other analysts have also issued reports on the company. Scotiabank decreased their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, Truist Financial dropped their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.82.

Rexford Industrial Realty Stock Down 2.4%

REXR stock opened at $35.45 on Friday. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty has a 52 week low of $29.68 and a 52 week high of $52.61. The firm has a 50 day moving average of $36.05 and a 200 day moving average of $37.29. The stock has a market capitalization of $8.39 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.33 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to analysts’ expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.66%. Rexford Industrial Realty’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Sell-side analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Institutional Trading of Rexford Industrial Realty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 566 shares during the last quarter. Bessemer Group Inc. raised its position in Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. Private Trust Co. NA increased its position in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 370 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.