Rexford Industrial Realty (NYSE:REXR) Stock Gets Price Target Boost from BNP Paribas Exane

Rexford Industrial Realty (NYSE:REXR) had its price target hoisted by analysts at BNP Paribas Exane from $38.00 to $41.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. BNP Paribas Exane‘s target price would suggest a potential upside of 7.48% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on REXR. BMO Capital Markets boosted their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Mizuho upgraded Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and upped their price target for the company from $38.00 to $41.00 in a research report on Tuesday, October 13th. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $38.00 to $40.00 and gave the company a “sector outperform” rating in a research report on Monday, August 31st. Jefferies Financial Group lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $40.67.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded down $0.56 during midday trading on Monday, reaching $38.15. The company’s stock had a trading volume of 841,631 shares, compared to its average volume of 2,621,418. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 1.70. The stock has a market capitalization of $8.51 billion, a P/E ratio of -18.09 and a beta of 1.18. The firm has a 50 day moving average price of $37.30 and a 200-day moving average price of $36.13. Rexford Industrial Realty has a 12-month low of $32.14 and a 12-month high of $42.66.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results 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). The business had revenue of $239.10 million for the quarter, compared to analysts’ expectations of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, equities analysts predict that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Rexford Industrial Realty during the 2nd quarter valued at $1,293,168,000. Dimensional Fund Advisors LP boosted its position in shares of Rexford Industrial Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock valued at $117,239,000 after purchasing an additional 85,135 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Rexford Industrial Realty during the second quarter valued at approximately $86,861,000. Bank of America Corp DE purchased a new stake in Rexford Industrial Realty in the second quarter worth $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rexford Industrial Realty by 41,558.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock worth $55,431,000 after purchasing an additional 1,650,693 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 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.