Rexford Industrial Realty (NYSE:REXR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised Rexford Industrial Realty’s price target to $47 from $43 and maintained an “overweight” rating, implying 22.23% upside from the $38.45 share price.
• Analyst sentiment is 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 $41.13.
• Rexford’s latest results included adjusted earnings of $0.07 per share, well below the $0.60 consensus estimate, although revenue of $239.1 million exceeded expectations; year-over-year revenue declined 5.6%.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price target lifted by analysts at Wells Fargo & Company from $43.00 to $47.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective suggests a potential upside of 22.23% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. Truist Financial boosted their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Cantor Fitzgerald decreased their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, October 26th. JPMorgan Chase & Co. increased their price objective on Rexford Industrial Realty from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Monday, August 3rd. Citigroup decreased their price target on Rexford Industrial Realty from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Weiss Ratings raised Rexford Industrial Realty from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.13.

Rexford Industrial Realty Stock Up 0.6%

Shares of NYSE REXR opened at $38.45 on Monday. The stock has a market capitalization of $8.16 billion, a P/E ratio of -18.27 and a beta of 1.18. The stock's fifty day moving average is $37.41 and its 200 day moving average is $36.46. Rexford Industrial Realty has a 52 week low of $32.14 and a 52 week high of $42.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.08 and a current ratio of 4.08.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its holdings in shares of Rexford Industrial Realty by 125.8% during the third quarter. Elevation Wealth Partners LLC now owns 700 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 390 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in Rexford Industrial Realty in the third quarter valued at $26,000. Root Financial Partners LLC bought a new stake in Rexford Industrial Realty during the third quarter worth about $35,000. Allworth Financial LP bought a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at about $33,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Rexford Industrial Realty during the 1st quarter valued at about $33,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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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