Mizuho Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $45.00

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by equities research analysts at Mizuho from $46.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 17.92% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Truist Financial dropped their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $50.73.

Rexford Industrial Realty Price Performance

REXR traded down $0.32 on Wednesday, hitting $38.16. 407,244 shares of the stock were exchanged, compared to its average volume of 1,337,092. The business has a 50-day moving average of $41.08 and a two-hundred day moving average of $45.98. Rexford Industrial Realty has a 12 month low of $37.67 and a 12 month high of $56.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. Sell-side analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently modified their holdings of REXR. Victory Capital Management Inc. increased its position in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after buying an additional 345 shares during the last quarter. Choreo LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter worth about $445,000. United Services Automobile Association raised its stake in Rexford Industrial Realty by 3.2% in the 2nd quarter. United Services Automobile Association now owns 17,121 shares of the real estate investment trust’s stock valued at $763,000 after acquiring an additional 531 shares during the period. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty during the second quarter valued at about $41,000. Finally, American Century Companies Inc. increased its stake in shares of Rexford Industrial Realty by 22.0% in the second quarter. American Century Companies Inc. now owns 77,200 shares of the real estate investment trust’s stock worth $3,442,000 after purchasing an additional 13,934 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

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.