Robert W. Baird Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $47.00

Rexford Industrial Realty (NYSE:REXR) had its target price lowered by equities research analysts at Robert W. Baird from $48.00 to $47.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective suggests a potential upside of 15.31% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Mizuho reduced their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays decreased their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Finally, Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded down $0.33 during trading hours on Tuesday, reaching $40.76. The stock had a trading volume of 121,404 shares, compared to its average volume of 1,951,872. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $9.29 billion, a PE ratio of 33.73, a PEG ratio of 2.62 and a beta of 0.98. The stock’s 50 day moving average is $39.82 and its 200 day moving average is $43.81. Rexford Industrial Realty has a twelve month low of $36.92 and a twelve month high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rush Island Management LP purchased a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $132,701,000. Norges Bank acquired a new position in Rexford Industrial Realty during the fourth quarter worth approximately $104,685,000. Long Pond Capital LP purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $58,595,000. Northern Trust Corp increased its holdings in shares of Rexford Industrial Realty by 94.3% during the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock worth $120,025,000 after buying an additional 1,506,779 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Rexford Industrial Realty by 338.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after buying an additional 1,489,876 shares during 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 is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.