Scotiabank Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

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

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

Rexford Industrial Realty Stock Up 1.4 %

Shares of REXR stock opened at $41.38 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 1 year low of $36.92 and a 1 year high of $53.88. The firm’s fifty day moving average price is $39.77 and its two-hundred day moving average price is $43.95. The firm has a market capitalization 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 (NYSE:REXR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock valued at $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after acquiring an additional 954,202 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in Rexford Industrial Realty by 32.3% in the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock worth $173,667,000 after acquiring an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rexford Industrial Realty by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust’s stock worth $160,282,000 after acquiring an additional 70,710 shares in the last quarter. Finally, Rush Island Management LP bought a new position in Rexford Industrial Realty in the fourth quarter worth approximately $132,701,000. Institutional investors own 99.52% of the company’s stock.

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.