Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Has Consensus Target Price of $41.13 According to Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been assigned an average rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $40.71.

A number of research analysts recently issued reports on REXR shares. Evercore reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Truist Financial raised their target price on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Weiss Ratings downgraded shares of Rexford Industrial Realty from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Mizuho upgraded shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $41.00 in a research report on Tuesday, October 13th. Finally, Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th.

Rexford Industrial Realty Stock Down 1.4%

NYSE:REXR opened at $36.30 on Tuesday. The firm has a market cap of $8.09 billion, a P/E ratio of 15.14 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.70. Rexford Industrial Realty has a fifty-two week low of $32.14 and a fifty-two week high of $43.08. The firm has a 50-day simple moving average of $37.25 and a two-hundred day simple moving average of $36.09.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Analysts predict that Rexford Industrial Realty will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC raised its position in Rexford Industrial Realty by 125.8% during the third quarter. Elevation Wealth Partners LLC now owns 700 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 390 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Rexford Industrial Realty in the 1st quarter worth approximately $33,000. Allworth Financial LP purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $33,000. Root Financial Partners LLC purchased a new position in shares of Rexford Industrial Realty in the 3rd quarter worth approximately $35,000. Finally, Caitlin John LLC purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $36,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.