Rexford Industrial Realty (NYSE:REXR) Given New $43.00 Price Target at Scotiabank

Key Points

• Scotiabank has raised the price target for Rexford Industrial Realty from $40.00 to $43.00, reflecting a potential upside of 4.93% from the last close.
• The stock has seen mixed reviews from several analysts, with ratings ranging from "Buy" to "Sell", leading to a consensus rating of "Hold."
• Rexford Industrial Realty's recent quarterly earnings report showed earnings per share of $0.59, exceeding estimates, but the company reported a year-over-year revenue increase of only 5% compared to the previous quarter.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price objective raised by Scotiabank from $40.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's target price points to a potential upside of 0.36% from the stock's current price.

A number of other equities analysts also recently weighed in on REXR. Industrial Alliance Securities set a $44.00 price target on Rexford Industrial Realty in a research report on Tuesday. Truist Financial increased their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Evercore ISI lowered shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and a consensus price target of $41.36.

Rexford Industrial Realty Stock Up 1.8%

REXR stock traded up $0.77 during mid-day trading on Thursday, hitting $42.85. 4,099,046 shares of the company were exchanged, compared to its average volume of 2,387,159. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The firm has a market cap of $10.14 billion, a P/E ratio of 31.74, a P/E/G ratio of 4.76 and a beta of 1.13. The firm's 50 day simple moving average is $38.01 and its 200 day simple moving average is $36.97. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.37.

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

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in REXR. Vanguard Group Inc. boosted its position in Rexford Industrial Realty by 5.7% during the second quarter. Vanguard Group Inc. now owns 32,460,761 shares of the real estate investment trust's stock worth $1,154,629,000 after purchasing an additional 1,749,685 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Rexford Industrial Realty by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust's stock valued at $1,074,413,000 after purchasing an additional 445,743 shares during the period. State Street Corp lifted its stake in shares of Rexford Industrial Realty by 4.9% during the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust's stock worth $428,509,000 after buying an additional 556,810 shares during the last quarter. Soroban Capital Partners LP boosted its holdings in shares of Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock worth $326,925,000 after buying an additional 3,344,677 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Rexford Industrial Realty by 130.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after buying an additional 4,384,624 shares during the last quarter. 99.52% of the stock is 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.