Rexford Industrial Realty (NYSE:REXR) PT Lowered to $49.00

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by research analysts at Mizuho from $50.00 to $49.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would suggest a potential downside of 0.69% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. StockNews.com raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Evercore ISI boosted their price target on shares of Rexford Industrial Realty from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Finally, Truist Financial increased their price target on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.00.

Rexford Industrial Realty Trading Down 1.7 %

NYSE REXR opened at $49.34 on Thursday. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.02. The business has a fifty day simple moving average of $49.12 and a 200 day simple moving average of $47.80. The firm has a market capitalization of $10.83 billion, a P/E ratio of 45.27, a PEG ratio of 2.09 and a beta of 0.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same period last year, the company earned $0.54 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts predict that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC lifted its stake in shares of Rexford Industrial Realty by 2.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 210 shares during the last quarter. Securian Asset Management Inc. raised its position in Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 330 shares during the last quarter. Inspire Investing LLC raised its position in Rexford Industrial Realty by 4.9% during the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Rexford Industrial Realty by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 345 shares during the last quarter. 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.