Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $41.00 at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) had its target price dropped by Evercore ISI from $42.00 to $41.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential downside of 1.56% from the company’s previous close.

A number of other brokerages have also recently commented on REXR. Wolfe Research cut shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 1st. They set an “overweight” rating and a $50.00 target price on the stock. Scotiabank lifted their target price on shares of Rexford Industrial Realty from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Wall Street Zen lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Industrial Alliance Securities set a $42.00 price objective on Rexford Industrial Realty in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.00.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded up $0.04 on Monday, hitting $41.65. 574,573 shares of the company traded hands, compared to its average volume of 2,498,706. Rexford Industrial Realty has a 12-month low of $29.68 and a 12-month high of $44.38. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. The company has a market cap of $9.70 billion, a P/E ratio of 29.33, a P/E/G ratio of 3.05 and a beta of 1.15. The firm’s 50-day simple moving average is $41.63 and its 200 day simple moving average is $39.15.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The company had revenue of $253.24 million during the quarter, compared to analyst estimates of $253.46 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $146,155,000. Soroban Capital Partners LP increased its position in Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock valued at $326,925,000 after purchasing an additional 3,344,677 shares during the period. Norges Bank bought a new position in Rexford Industrial Realty in the 2nd quarter worth $104,116,000. Royal London Asset Management Ltd. purchased a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth about $91,671,000. Finally, Nomura Holdings Inc. lifted its position in shares of Rexford Industrial Realty by 19,554.8% in the 2nd quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust’s stock worth $82,622,000 after purchasing an additional 2,310,988 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.