Barclays Issues Positive Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Key Points

• Barclays has raised its price target for Rexford Industrial Realty from $35.00 to $39.00, indicating a potential downside of 10.24% based on current stock prices.
• Other analysts, including Mizuho and Scotiabank, have also adjusted their price targets, with the consensus target price for Rexford Industrial Realty now at $40.91.
• The stock is experiencing mixed performance, with shares down 0.2% recently and a reported quarterly earnings beat of $0.59 per share.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price objective upped by analysts at Barclays from $35.00 to $39.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. Barclays's price target would indicate a potential downside of 10.24% from the company's current price.

Several other research analysts have also weighed in on the company. Mizuho upped their target price on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, September 8th. Scotiabank upped their price target on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 4th. Truist Financial upped their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Evercore ISI upped their price target on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company decreased their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.91.

Rexford Industrial Realty Stock Down 0.2%

Shares of Rexford Industrial Realty stock opened at $43.45 on Monday. The stock's fifty day moving average is $38.66 and its 200-day moving average is $37.03. The firm has a market capitalization of $10.28 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 4.81 and a beta of 1.13. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty has a 12-month low of $29.68 and a 12-month high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.Rexford Industrial Realty's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of REXR. Massachusetts Financial Services Co. MA grew its holdings in Rexford Industrial Realty by 130.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after purchasing an additional 4,384,624 shares during the period. Nuveen LLC bought a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $146,155,000. Soroban Capital Partners LP boosted its stake in shares of Rexford Industrial Realty by 57.2% in the second quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock valued at $326,925,000 after buying an additional 3,344,677 shares during the period. Norges Bank bought a new stake in shares of Rexford Industrial Realty in the second quarter valued at approximately $104,116,000. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Rexford Industrial Realty in the second quarter valued at approximately $91,671,000. Institutional investors own 99.52% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

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