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

Rexford Industrial Realty (NYSE:REXR) had its price objective decreased by stock analysts at Mizuho from $46.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective suggests a potential upside of 17.74% from the company’s current price.

A number of other research firms also recently weighed in on REXR. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Truist Financial decreased 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 research note on Tuesday, November 12th. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.73.

Rexford Industrial Realty Trading Down 0.7 %

Rexford Industrial Realty stock opened at $38.22 on Wednesday. The business’s 50-day simple moving average is $40.86 and its 200-day simple moving average is $45.88. Rexford Industrial Realty has a 52 week low of $37.67 and a 52 week high of $56.87. The firm has a market capitalization of $8.50 billion, a PE ratio of 31.07, a PEG ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last issued 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%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Equities research analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in REXR. Victory Capital Management Inc. raised its position in shares of Rexford Industrial Realty by 0.8% during 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 acquiring an additional 345 shares during the last quarter. Choreo LLC bought a new stake in Rexford Industrial Realty during the 2nd quarter worth about $445,000. United Services Automobile Association lifted its position in Rexford Industrial Realty by 3.2% during 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 purchasing an additional 531 shares during the period. Headlands Technologies LLC bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at about $41,000. Finally, American Century Companies Inc. boosted its stake in shares of Rexford Industrial Realty by 22.0% in the 2nd quarter. American Century Companies Inc. now owns 77,200 shares of the real estate investment trust’s stock valued at $3,442,000 after purchasing an additional 13,934 shares during the last quarter. Institutional investors and hedge funds 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.