Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $52.00

Rexford Industrial Realty (NYSE:REXR) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $47.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.76% from the company’s current price.

REXR has been the topic of a number of other research reports. Barclays boosted their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird cut their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Wedbush started coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, Scotiabank reduced their target price on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus target price of $52.30.

Rexford Industrial Realty Stock Performance

REXR stock traded up $0.63 during midday trading on Thursday, hitting $49.17. 375,483 shares of the company traded hands, compared to its average volume of 1,768,212. The company has a quick ratio of 3.21, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The business has a 50 day simple moving average of $45.73 and a 200-day simple moving average of $48.56. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, equities research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its position in Rexford Industrial Realty by 21.9% in the 4th quarter. SG Americas Securities LLC now owns 30,587 shares of the real estate investment trust’s stock valued at $1,716,000 after purchasing an additional 5,487 shares during the last quarter. Raymond James & Associates lifted its position in Rexford Industrial Realty by 26.8% during the 4th quarter. Raymond James & Associates now owns 96,907 shares of the real estate investment trust’s stock worth $5,436,000 after buying an additional 20,476 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Rexford Industrial Realty during the 4th quarter worth about $254,000. Chilton Capital Management LLC increased its position in Rexford Industrial Realty by 7.3% in the 4th quarter. Chilton Capital Management LLC now owns 151,801 shares of the real estate investment trust’s stock valued at $8,547,000 after acquiring an additional 10,360 shares in the last quarter. Finally, Manning & Napier Group LLC raised its stake in shares of Rexford Industrial Realty by 61.8% in the fourth quarter. Manning & Napier Group LLC now owns 208,075 shares of the real estate investment trust’s stock worth $11,673,000 after acquiring an additional 79,505 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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.