Evercore ISI Boosts Rexford Industrial Realty (NYSE:REXR) Price Target to $58.00

Rexford Industrial Realty (NYSE:REXR) had its target price upped by Evercore ISI from $57.00 to $58.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 14.24% from the company’s previous close.

REXR has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Truist Financial increased their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.09.

Rexford Industrial Realty Stock Up 0.4 %

Shares of NYSE:REXR traded up $0.18 during trading on Monday, hitting $50.77. The company’s stock had a trading volume of 323,044 shares, compared to its average volume of 1,693,371. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The stock’s 50-day moving average price is $49.72 and its two-hundred day moving average price is $47.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $11.15 billion, a PE ratio of 46.58, a PEG ratio of 2.03 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million for 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 quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts expect that Rexford Industrial Realty will post 2.35 EPS for the current year.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Rexford Industrial Realty by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after acquiring an additional 4,197,907 shares during the last quarter. Capital International Investors lifted its stake in Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after acquiring an additional 17,103,653 shares during the last quarter. Centersquare Investment Management LLC grew its position in Rexford Industrial Realty by 1.1% in the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after acquiring an additional 42,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the last quarter. 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.