Evercore ISI Raises Rexford Industrial Realty (NYSE:REXR) Price Target to $39.00

Key Points

• Evercore ISI has raised its price target for Rexford Industrial Realty (NYSE:REXR) from $38.00 to $39.00, indicating a potential downside of 8.98% from its previous close.
• The stock received mixed ratings with two Buy, seven Hold, and one Sell from various analysts, and a consensus target price of $41.00.
• Rexford Industrial Realty's recent quarterly earnings showed a 5.0% revenue increase year-over-year, with an EPS of $0.59, slightly exceeding analyst expectations.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price objective raised by equities researchers at Evercore ISI from $38.00 to $39.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price would indicate a potential downside of 10.24% from the company's current price.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of 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. Mizuho raised their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday. Truist Financial boosted their price objective on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Industrial Alliance Securities set a $44.00 target price on Rexford Industrial Realty in a report on Tuesday, September 2nd. Finally, Scotiabank lifted their target price on Rexford Industrial Realty from $40.00 to $43.00 and gave the company 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.55.

Rexford Industrial Realty Stock Down 0.2%

Rexford Industrial Realty stock traded down $0.08 during mid-day trading on Monday, reaching $43.45. The stock had a trading volume of 2,480,491 shares, compared to its average volume of 2,629,881. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty has a fifty-two week low of $29.68 and a fifty-two week high of $52.37. The stock's 50-day simple moving average is $38.54 and its 200-day simple moving average is $37.06. The firm has a market capitalization of $10.28 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 4.74 and a beta of 1.13.

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

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of the company's 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds have recently bought and sold shares of REXR. Summit Investment Advisors Inc. lifted its position in Rexford Industrial Realty by 0.7% during the first quarter. Summit Investment Advisors Inc. now owns 44,771 shares of the real estate investment trust's stock valued at $1,753,000 after purchasing an additional 308 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Rexford Industrial Realty by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 117,425 shares of the real estate investment trust's stock worth $4,177,000 after acquiring an additional 311 shares in the last quarter. M&T Bank Corp increased its stake in Rexford Industrial Realty by 1.2% in the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after acquiring an additional 317 shares during the last quarter. Caitlin John LLC increased its stake in Rexford Industrial Realty by 6.4% in the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust's stock valued at $214,000 after acquiring an additional 361 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Rexford Industrial Realty by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,475 shares of the real estate investment trust's stock valued at $1,261,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other 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.