Rexford Industrial Realty (NYSE:REXR) Receives New Coverage from Analysts at Wedbush

Stock analysts at Wedbush began coverage on shares of Rexford Industrial Realty (NYSE:REXR - Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $45.00 price target on the real estate investment trust's stock. Wedbush's target price suggests a potential upside of 4.63% from the company's current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Robert W. Baird restated a "neutral" rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Mizuho reaffirmed a "neutral" rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Barclays started coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an "underweight" rating and a $45.00 target price for the company. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.64.

Rexford Industrial Realty Price Performance

REXR traded up $0.27 on Monday, reaching $43.01. The company had a trading volume of 1,943,547 shares, compared to its average volume of 1,991,349. The company has a market capitalization of $9.37 billion, a P/E ratio of 39.25, a PEG ratio of 1.89 and a beta of 0.86. The company has a current ratio of 3.21, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $50.22 and a 200-day moving average of $50.63. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same quarter in the prior year, the business earned $0.52 EPS. Rexford Industrial Realty's revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REXR. Raymond James & Associates increased its holdings in shares of Rexford Industrial Realty by 2.4% during the 1st quarter. Raymond James & Associates now owns 99,237 shares of the real estate investment trust's stock valued at $4,992,000 after acquiring an additional 2,330 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new position in shares of Rexford Industrial Realty in the first quarter valued at approximately $284,000. State of Alaska Department of Revenue lifted its stake in shares of Rexford Industrial Realty by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 123,265 shares of the real estate investment trust's stock worth $6,199,000 after buying an additional 420 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Rexford Industrial Realty by 5.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,727 shares of the real estate investment trust's stock worth $690,000 after buying an additional 685 shares during the period. Finally, Naviter Wealth LLC grew its stake in Rexford Industrial Realty by 53.9% in the 1st quarter. Naviter Wealth LLC now owns 13,932 shares of the real estate investment trust's stock valued at $707,000 after buying an additional 4,879 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.