Scotiabank Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $37.00

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price target decreased by stock analysts at Scotiabank from $39.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price objective would suggest a potential upside of 3.53% from the company's previous close.

REXR has been the topic of a number of other research reports. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. Barclays reduced their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, Evercore ISI lowered their price objective on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus price target of $42.00.

Rexford Industrial Realty Stock Up 1.0%

NYSE:REXR traded up $0.34 during trading hours on Monday, hitting $35.74. 2,027,159 shares of the company's stock traded hands, compared to its average volume of 1,944,804. The stock's fifty day moving average price is $35.53 and its two-hundred day moving average price is $38.81. The firm has a market cap of $8.46 billion, a P/E ratio of 29.54, a P/E/G ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, research analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after buying an additional 566 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Rexford Industrial Realty by 118.4% during 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 in the last quarter. Private Trust Co. NA increased its position in shares of Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 370 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $33,000. 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.