Rexford Industrial Realty (NYSE:REXR) Stock Gets Price Target Cut from Cantor Fitzgerald

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by stock analysts at Cantor Fitzgerald from $45.00 to $44.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald‘s price target suggests a potential upside of 13.71% from the company’s previous close.

Several other analysts have also commented on the company. Weiss Ratings raised Rexford Industrial Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Truist Financial upped their target price on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Scotiabank lifted their price target on shares of Rexford Industrial Realty from $38.00 to $40.00 and gave the company a “sector outperform” rating in a research note on Monday, August 31st. Finally, Evercore reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.64.

Rexford Industrial Realty Trading Down 0.0%

REXR stock opened at $38.69 on Monday. Rexford Industrial Realty has a 52-week low of $32.14 and a 52-week high of $42.92. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8.63 billion, a P/E ratio of -18.34 and a beta of 1.18. The company’s 50-day simple moving average is $37.30 and its 200-day simple moving average is $36.13.

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

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Rexford Industrial Realty in the second quarter worth approximately $1,293,168,000. Dimensional Fund Advisors LP raised its stake in Rexford Industrial Realty by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock valued at $117,239,000 after purchasing an additional 85,135 shares during the last quarter. Legal & General Group Plc acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at $86,861,000. Bank of America Corp DE acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rexford Industrial Realty by 41,558.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock valued at $55,431,000 after purchasing an additional 1,650,693 shares in the last quarter. 99.52% of the stock is currently 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.