Rexford Industrial Realty (NYSE:REXR) Downgraded to In-Line Rating by Evercore ISI

Rexford Industrial Realty (NYSE:REXR - Get Free Report) was downgraded by analysts at Evercore ISI from an "outperform" rating to an "in-line" rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $38.00 price objective on the real estate investment trust's stock, down from their prior price objective of $39.00. Evercore ISI's price objective suggests a potential upside of 7.19% from the stock's current price.

Several other research firms have also recently issued reports on REXR. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Truist Financial cut their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, Wells Fargo & Company cut their price target on shares of 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average price target of $39.82.

Rexford Industrial Realty Stock Down 2.4%

Shares of REXR stock opened at $35.45 on Friday. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty has a twelve month low of $29.68 and a twelve month high of $52.61. The stock has a 50 day moving average of $36.05 and a 200 day moving average of $37.29. The stock has a market cap of $8.39 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.33 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.66% and a net margin of 32.04%. The business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors have recently added to or reduced their stakes in REXR. Teacher Retirement System of Texas increased its holdings in Rexford Industrial Realty by 198.3% during the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock worth $1,528,000 after purchasing an additional 25,945 shares in the last quarter. GAMMA Investing LLC boosted its position in Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 978 shares during the last quarter. M&T Bank Corp boosted its position in shares of Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after purchasing an additional 317 shares in the last quarter. Bessemer Group Inc. increased its stake in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Rexford Industrial Realty by 40.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after acquiring an additional 10,603 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

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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