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

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 lifted by investment analysts at Evercore ISI from $38.00 to $39.00 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 target price indicates a potential downside of 10.24% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Truist Financial lifted 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. Mizuho lifted their price target on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, September 8th. Scotiabank lifted 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. Wells Fargo & Company dropped their price target 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. Finally, Industrial Alliance Securities set a $44.00 price target on Rexford Industrial Realty in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.55.

Rexford Industrial Realty Price Performance

NYSE:REXR traded down $0.08 during mid-day trading on Monday, reaching $43.45. 2,480,491 shares of the stock were exchanged, compared to its average volume of 2,790,752. The business has a fifty day moving average price of $38.66 and a 200 day moving average price of $37.08. The firm has a market capitalization of $10.28 billion, a PE ratio of 32.18, a PEG ratio of 4.83 and a beta of 1.13. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.37. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Research analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rexford Industrial Realty 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 transaction of $975,174.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors have recently made changes to their positions in REXR. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $706,000. Ameriprise Financial Inc. lifted its holdings in shares of Rexford Industrial Realty by 9.6% during the 4th quarter. Ameriprise Financial Inc. now owns 751,640 shares of the real estate investment trust's stock valued at $29,062,000 after buying an additional 65,966 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Rexford Industrial Realty by 43.9% during the 4th quarter. Cetera Investment Advisers now owns 11,723 shares of the real estate investment trust's stock valued at $453,000 after buying an additional 3,575 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $454,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Rexford Industrial Realty by 18.5% during the 4th quarter. Janus Henderson Group PLC now owns 143,784 shares of the real estate investment trust's stock valued at $5,558,000 after buying an additional 22,428 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.