Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $41.00

Rexford Industrial Realty (NYSE:REXR) had its price target increased by analysts at BNP Paribas Exane from $38.00 to $41.00 in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. BNP Paribas Exane‘s price target indicates a potential upside of 7.90% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research report on Thursday, August 6th. BMO Capital Markets increased their target price on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Mizuho upgraded shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $38.00 to $41.00 in a research report on Tuesday, October 13th. Finally, Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.67.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $38.00 on Monday. The company has a current ratio of 4.08, a quick ratio of 1.70 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $37.32 and a 200 day simple moving average of $36.50. The company has a market cap of $8.47 billion, a P/E ratio of -18.01 and a beta of 1.18. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $42.66.

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

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of Rexford Industrial Realty by 29.3% in the 3rd quarter. Signaturefd LLC now owns 6,520 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 1,476 shares during the last quarter. Lantern Wealth Advisors LLC boosted its stake in shares of Rexford Industrial Realty by 21.2% in the 3rd quarter. Lantern Wealth Advisors LLC now owns 10,300 shares of the real estate investment trust’s stock valued at $374,000 after purchasing an additional 1,800 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Rexford Industrial Realty by 102.7% in the 3rd quarter. Inspire Investing LLC now owns 49,344 shares of the real estate investment trust’s stock valued at $1,790,000 after purchasing an additional 25,001 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at about $35,000. Finally, IFP Advisors Inc boosted its stake in shares of Rexford Industrial Realty by 270.5% in the 3rd quarter. IFP Advisors Inc now owns 2,545 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 1,858 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

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.