Rexford Industrial Realty (NYSE:REXR) Coverage Initiated by Analysts at Wedbush

Wedbush started coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $45.00 price target on the real estate investment trust’s stock. Wedbush’s target price points to a potential upside of 2.90% from the company’s current price.

A number of other equities research analysts have also recently weighed in on REXR. Barclays assumed coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. Mizuho reiterated a “neutral” rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Robert W. Baird reiterated a “neutral” rating and issued a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Finally, TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $54.73.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $43.73 on Monday. The stock’s fifty day moving average is $49.88 and its two-hundred day moving average is $50.57. The company has a market capitalization of $9.53 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The company has a quick ratio of 1.35, a current ratio of 3.21 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 issued its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares in the last quarter. Pacer Advisors Inc. lifted its position in Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after buying an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Rexford Industrial Realty during the fourth quarter worth approximately $3,327,000. Daiwa Securities Group Inc. lifted its position in Rexford Industrial Realty by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after buying an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after buying an additional 19,981 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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.