Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $46.00

Rexford Industrial Realty (NYSE:REXR) had its target price raised by stock analysts at Barclays from $45.00 to $46.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 4.36% from the stock’s previous close.

REXR has been the subject of a number of other reports. Truist Financial decreased their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Mizuho reiterated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Wedbush began coverage on Rexford Industrial Realty in a report on Monday. They set a “neutral” rating and a $45.00 price target for the company. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.73.

Rexford Industrial Realty Price Performance

NYSE REXR traded up $1.07 on Tuesday, hitting $44.08. 464,331 shares of the company’s stock were exchanged, compared to its average volume of 1,970,940. The stock has a 50-day moving average of $50.04 and a 200-day moving average of $50.60. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 1.89 and a beta of 0.86. The company has a current ratio of 3.21, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Analysts expect that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at $41,000. Fifth Third Bancorp grew its position in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares in the last quarter. Quarry LP grew its position in Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 740 shares in the last quarter. Principal Securities Inc. purchased a new position in Rexford Industrial Realty in the fourth quarter worth $96,000. Finally, Ninepoint Partners LP purchased a new position in Rexford Industrial Realty in the third quarter worth $108,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.