Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $41.00

Key Points

• BNP Paribas Exane raised Rexford Industrial Realty’s price target from $38 to $41 while maintaining a “neutral” rating, implying 7.48% upside from the previous close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $40.67 from 15 analysts.
• REXR shares fell 1.5% to $38.15 after the company reported quarterly EPS of $0.07, missing estimates of $0.60, although revenue of $239.1 million exceeded expectations.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its target price raised by BNP Paribas Exane from $38.00 to $41.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. BNP Paribas Exane's target price would indicate a potential upside of 7.48% from the company's previous close.

A number of other brokerages have also commented on REXR. Citigroup reiterated a "neutral" rating on shares of Rexford Industrial Realty in a research note on Wednesday, July 29th. Mizuho raised Rexford Industrial Realty from a "neutral" rating to an "outperform" rating and upped their target price for the company from $38.00 to $41.00 in a research report on Tuesday, October 13th. Wall Street Zen upgraded Rexford Industrial Realty from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 19th. Barclays reduced their price target on Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating for the company in a research note on Thursday, July 16th. Finally, Wells Fargo & Company decreased their price objective on Rexford Industrial Realty from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.67.

Rexford Industrial Realty Stock Down 1.5%

NYSE:REXR traded down $0.56 during trading hours on Monday, reaching $38.15. 841,631 shares of the stock were exchanged, compared to its average volume of 2,621,418. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 1.70. The firm has a 50 day moving average of $37.30 and a 200 day moving average of $36.13. The stock has a market cap of $8.51 billion, a PE ratio of -18.09 and a beta of 1.18. Rexford Industrial Realty has a twelve month low of $32.14 and a twelve month high of $42.66.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted 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). The company had revenue of $239.10 million for the quarter, compared to analyst estimates of $232.95 million. Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. On average, equities analysts expect that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently modified their holdings of REXR. BlackRock Inc. acquired a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at approximately $1,293,168,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 in the last quarter. Legal & General Group Plc acquired a new stake in Rexford Industrial Realty in the second quarter valued at approximately $86,861,000. Bank of America Corp DE bought a new position in Rexford Industrial Realty in the second quarter valued at about $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rexford Industrial Realty by 41,558.2% in the second 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 buying an additional 1,650,693 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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.

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