Evercore ISI Forecasts Strong Price Appreciation for Rexford Industrial Realty (NYSE:REXR) Stock

Key Points

• Evercore ISI has increased its price target for Rexford Industrial Realty from $39.00 to $40.00 while maintaining an "in-line" rating, indicating a potential downside of 7.18% based on the stock's previous close.
• Other analysts have issued mixed ratings, with Wells Fargo lowering its target to $39.00 while Scotiabank raised its target to $43.00, resulting in a consensus "Hold" rating and an average price target of $41.00.
• Rexford Industrial Realty recently reported a quarterly EPS of $0.59, exceeding estimates, but its revenue was below expectations at $241.57 million for the quarter.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price objective upped by research analysts at Evercore ISI from $39.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective would suggest a potential downside of 7.18% from the company's previous close.

Several other research firms have also weighed in on REXR. Wells Fargo & Company cut their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Industrial Alliance Securities set a $39.00 target price on Rexford Industrial Realty in a research note on Monday, September 8th. Mizuho raised their price target 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. Barclays raised their price target on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, Scotiabank raised their price target on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target of $41.00.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded down $0.27 during trading hours on Monday, hitting $43.09. 107,521 shares of the company's stock were exchanged, compared to its average volume of 2,615,363. The stock's 50-day moving average is $38.66 and its 200-day moving average is $37.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 4.81 and a beta of 1.13. Rexford Industrial Realty has a 52 week low of $29.68 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, research analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current year.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. grew its stake in Rexford Industrial Realty by 19,554.8% in the second quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust's stock valued at $82,622,000 after purchasing an additional 2,310,988 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Rexford Industrial Realty by 10.1% in the second quarter. Westwood Holdings Group Inc. now owns 649,966 shares of the real estate investment trust's stock valued at $23,119,000 after purchasing an additional 59,671 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Rexford Industrial Realty by 9.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 519,362 shares of the real estate investment trust's stock valued at $18,477,000 after purchasing an additional 44,136 shares in the last quarter. 44 Wealth Management LLC bought a new position in Rexford Industrial Realty in the second quarter valued at approximately $422,000. Finally, Tower Research Capital LLC TRC grew its stake in Rexford Industrial Realty by 53.3% in the second quarter. Tower Research Capital LLC TRC now owns 23,818 shares of the real estate investment trust's stock valued at $847,000 after purchasing an additional 8,280 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Company Profile

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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