Rexford Industrial Realty (NYSE:REXR) Stock Price Target Raised at Scotiabank

Rexford Industrial Realty (NYSE:REXR) had its price objective raised by analysts at Scotiabank from $40.00 to $42.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank‘s price target would indicate a potential upside of 10.05% from the stock’s previous close.

REXR has been the topic of several other reports. Barclays dropped their target price on Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating on the stock in a report on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, August 3rd. Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Jefferies Financial Group downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Thursday, August 6th. Finally, Truist Financial upped their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $40.87.

Rexford Industrial Realty Trading Down 0.5%

Shares of Rexford Industrial Realty stock traded down $0.18 during trading on Friday, reaching $38.16. The company’s stock had a trading volume of 2,138,453 shares, compared to its average volume of 2,628,089. The company has a market cap of $8.20 billion, a price-to-earnings ratio of -18.09 and a beta of 1.18. The firm’s 50-day moving average is $37.39 and its two-hundred day moving average is $36.47. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty has a 52-week low of $32.14 and a 52-week high of $42.41.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53). The firm had revenue of $239.10 million during the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. On average, sell-side analysts anticipate that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its holdings in shares of Rexford Industrial Realty by 1.0% during the first quarter. IFM Investors Pty Ltd now owns 38,360 shares of the real estate investment trust’s stock valued at $1,256,000 after acquiring an additional 370 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Rexford Industrial Realty by 8.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,878 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 387 shares during the last quarter. Elevation Wealth Partners LLC increased its position in shares of 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 acquiring an additional 390 shares during the last quarter. Koa Wealth Management LLC boosted its position in shares of Rexford Industrial Realty by 0.9% during the first quarter. Koa Wealth Management LLC now owns 46,268 shares of the real estate investment trust’s stock worth $1,514,000 after buying an additional 408 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rexford Industrial Realty by 13.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,804 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 441 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.