FBR & Co Initiates Coverage on Rexford Industrial Realty Inc (REXR)
Research analysts at FBR & Co assumed coverage on shares of Rexford Industrial Realty Inc (NASDAQ:REXR) in a research note issued to investors on Tuesday, July 11th. The brokerage set a “mkt perform” rating and a $26.00 price target on the stock. FBR & Co’s price target indicates a potential downside of 7.44% from the stock’s current price. FBR & Co also issued estimates for Rexford Industrial Realty’s Q2 2017 earnings at $0.23 EPS, Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $0.94 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $1.06 EPS.
A number of other research analysts also recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price target on shares of Rexford Industrial Realty in a report on Monday, March 20th. Zacks Investment Research downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, March 18th. National Securities reissued a “neutral” rating and issued a $23.00 price target (up previously from $22.00) on shares of Rexford Industrial Realty in a report on Thursday, May 11th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target (up previously from $27.50) on shares of Rexford Industrial Realty in a report on Wednesday, June 14th. Finally, Wunderlich reissued a “hold” rating and issued a $24.00 price target (up previously from $22.00) on shares of Rexford Industrial Realty in a report on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rexford Industrial Realty currently has a consensus rating of “Buy” and a consensus target price of $27.71.
Shares of Rexford Industrial Realty (REXR) opened at 28.09 on Tuesday. Rexford Industrial Realty has a 1-year low of $20.05 and a 1-year high of $29.01. The firm’s 50-day moving average is $27.73 and its 200-day moving average is $24.99. The company has a market cap of $1.99 billion and a PE ratio of 60.15.
Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The company had revenue of $36.78 million during the quarter, compared to the consensus estimate of $36.75 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that Rexford Industrial Realty will post $0.19 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Rexford Industrial Realty during the first quarter worth about $114,000. Daiwa Securities Group Inc. raised its position in shares of Rexford Industrial Realty by 51.4% in the first quarter. Daiwa Securities Group Inc. now owns 5,300 shares of the company’s stock worth $119,000 after buying an additional 1,800 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Rexford Industrial Realty during the first quarter worth about $128,000. Westside Investment Management Inc. acquired a new position in shares of Rexford Industrial Realty during the first quarter worth about $138,000. Finally, Cutler Group LP acquired a new position in shares of Rexford Industrial Realty during the second quarter worth about $164,000.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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