Rexford Industrial Realty (NYSE:REXR) Given New $47.00 Price Target at Scotiabank

Rexford Industrial Realty (NYSE:REXR) had its target price cut by equities researchers at Scotiabank from $48.00 to $47.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 13.60% from the company’s previous close.

Several other brokerages also recently issued reports on REXR. Mizuho cut their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Barclays cut their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Truist Financial lowered their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.67.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR traded up $0.59 during trading on Friday, hitting $41.38. The company had a trading volume of 2,845,729 shares, compared to its average volume of 2,010,416. The company has a market cap of $9.43 billion, a P/E ratio of 34.19, a PEG ratio of 2.62 and a beta of 0.95. Rexford Industrial Realty has a 52 week low of $36.92 and a 52 week high of $53.88. The business’s 50-day moving average is $39.70 and its 200 day moving average is $44.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities research analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in Rexford Industrial Realty during the fourth quarter valued at about $154,000. Voloridge Investment Management LLC bought a new stake in Rexford Industrial Realty during the fourth quarter valued at about $15,433,000. Sophron Capital Management L.P. bought a new stake in Rexford Industrial Realty during the fourth quarter valued at about $15,012,000. Westwood Holdings Group Inc. boosted its holdings in Rexford Industrial Realty by 9.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 567,045 shares of the real estate investment trust’s stock valued at $21,922,000 after acquiring an additional 49,646 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Rexford Industrial Realty by 20.9% during the fourth quarter. Tidal Investments LLC now owns 207,235 shares of the real estate investment trust’s stock valued at $8,012,000 after acquiring an additional 35,802 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Company Profile

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.