Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $61.00 at Wells Fargo & Company

Rexford Industrial Realty (NYSE:REXR) had its price objective lowered by equities researchers at Wells Fargo & Company from $66.00 to $61.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.17% from the stock’s current price.

Several other research firms have also weighed in on REXR. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Mizuho decreased their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. JPMorgan Chase & Co. raised their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Scotiabank upped their price target on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Evercore ISI initiated coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They set an “outperform” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $53.82.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR traded down $0.19 during midday trading on Wednesday, hitting $52.06. The company had a trading volume of 24,121 shares, compared to its average volume of 1,689,162. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The business’s 50-day simple moving average is $48.24 and its 200-day simple moving average is $47.82.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. On average, research analysts predict that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth approximately $41,000. Van ECK Associates Corp lifted its stake in shares of Rexford Industrial Realty by 15.9% in the 4th quarter. Van ECK Associates Corp now owns 79,137 shares of the real estate investment trust’s stock worth $4,440,000 after acquiring an additional 10,828 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 19.7% in the fourth quarter. Victory Capital Management Inc. now owns 45,851 shares of the real estate investment trust’s stock valued at $2,572,000 after acquiring an additional 7,533 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of Rexford Industrial Realty by 188.9% during the fourth quarter. New York Life Investment Management LLC now owns 92,561 shares of the real estate investment trust’s stock worth $5,193,000 after acquiring an additional 60,517 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Rexford Industrial Realty by 0.8% during the fourth quarter. Amalgamated Bank now owns 131,198 shares of the real estate investment trust’s stock worth $7,360,000 after acquiring an additional 981 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

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.