Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $47.00

Rexford Industrial Realty (NYSE:REXR) had its price objective hoisted by equities researchers at Wells Fargo & Company from $43.00 to $47.00 in a report released on Monday, 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 22.23% from the stock’s previous close.

A number of other brokerages also recently commented on REXR. Barclays decreased their target price on Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, July 16th. BNP Paribas Exane raised their target price on shares of Rexford Industrial Realty from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, October 26th. Weiss Ratings raised shares of Rexford Industrial Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Wall Street Zen upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.13.

Rexford Industrial Realty Trading Up 0.6%

NYSE REXR opened at $38.45 on Monday. The firm has a market cap of $8.16 billion, a PE ratio of -18.27 and a beta of 1.18. Rexford Industrial Realty has a 1-year low of $32.14 and a 1-year high of $42.41. The stock has a 50-day moving average of $37.41 and a 200-day moving average of $36.46. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The company had revenue of $239.10 million during the quarter, compared to the consensus estimate of $232.95 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Rexford Industrial Realty will post 2.42 EPS for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth $1,293,168,000. Dimensional Fund Advisors LP grew its position in shares of Rexford Industrial Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock worth $117,239,000 after purchasing an additional 85,135 shares in the last quarter. Legal & General Group Plc bought a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $86,861,000. Bank of America Corp DE purchased a new position in shares of Rexford Industrial Realty in the second quarter worth $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rexford Industrial Realty by 41,558.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock valued at $55,431,000 after purchasing an additional 1,650,693 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.