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

Key Points

• Truist Financial raised Rexford Industrial Realty’s price target from $39 to $42 and maintained a “buy” rating, implying 9.54% upside from the prior close.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy, five rate it Hold, and three rate it Sell, resulting in a consensus “Hold” rating and an average target price of $41.33.
• Rexford reported quarterly EPS of $0.07, well below the $0.60 consensus estimate, although revenue of $239.1 million exceeded expectations; institutional investors own 99.52% of the stock.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its target price raised by equities research analysts at Truist Financial from $39.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. Truist Financial's target price would indicate a potential upside of 9.54% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Mizuho raised shares of Rexford Industrial Realty from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $38.00 to $41.00 in a research report on Tuesday, October 13th. Cantor Fitzgerald decreased their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, October 26th. Scotiabank raised their target price on shares of Rexford Industrial Realty from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday. Barclays dropped their price target on shares of Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating for the company in a research report on Thursday, July 16th. Finally, BMO Capital Markets boosted their price target on Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $41.33.

Rexford Industrial Realty Stock Performance

NYSE:REXR traded down $0.25 during mid-day trading on Tuesday, hitting $38.34. 407,247 shares of the stock were exchanged, compared to its average volume of 2,621,721. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -18.15 and a beta of 1.18. The firm's 50-day simple moving average is $37.44 and its 200 day simple moving average is $36.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.70 and a current ratio of 4.08. Rexford Industrial Realty has a fifty-two week low of $32.14 and a fifty-two week high of $42.41.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53). The firm had revenue of $239.10 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, equities analysts anticipate that Rexford Industrial Realty will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $1,293,168,000. GSA Capital Partners LLP bought a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $2,864,000. Bank of America Corp DE bought a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $79,547,000. Hsbc Holdings PLC grew its holdings in Rexford Industrial Realty by 17.7% during the 4th quarter. Hsbc Holdings PLC now owns 387,836 shares of the real estate investment trust's stock worth $15,017,000 after acquiring an additional 58,270 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $2,520,000. 99.52% of the stock is currently 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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