Rexford Industrial Realty (NYSE:REXR) Stock Gets Price Target Increase from Scotiabank

Key Points

• Scotiabank raised Rexford Industrial Realty’s price target from $40 to $42 and maintained a “sector outperform” rating, implying approximately 10% upside from the stock’s $38.16 trading price.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, five Hold, and three Sell, resulting in a consensus “Hold” rating and an average price target of $40.87.
• Rexford reported quarterly EPS of $0.07, missing the $0.60 consensus estimate, although revenue of $239.1 million exceeded expectations. Institutional investors own 99.52% of the company’s shares.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its target price increased by stock analysts at Scotiabank from $40.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective would suggest a potential upside of 10.05% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Barclays dropped their target price on shares of Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating for the company in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Rexford Industrial Realty from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, October 23rd. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $44.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. Cantor Fitzgerald dropped their target price on Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Jefferies Financial Group lowered Rexford Industrial Realty from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.87.

Rexford Industrial Realty Trading Down 0.5%

NYSE:REXR traded down $0.18 during midday trading on Friday, hitting $38.16. The stock had a trading volume of 2,138,453 shares, compared to its average volume of 2,628,089. Rexford Industrial Realty has a one year low of $32.14 and a one year high of $42.41. The stock has a 50-day moving average of $37.39 and a 200 day moving average of $36.47. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of -18.09 and a beta of 1.18. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.53). The firm had revenue of $239.10 million for the quarter, compared to analysts' expectations of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, sell-side analysts forecast that Rexford Industrial Realty will post 2.42 EPS for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at about $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 worth $117,239,000 after purchasing an additional 85,135 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Rexford Industrial Realty in the second quarter worth $86,861,000. Bank of America Corp DE acquired a new stake in shares of 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 stake 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 during the last quarter. Institutional investors own 99.52% of the company's stock.

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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