Rexford Industrial Realty (NYSE:REXR) Given New $41.00 Price Target at Barclays

Rexford Industrial Realty (NYSE:REXR) had its target price cut by Barclays from $44.00 to $41.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, Truist Financial cut their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.42.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $38.79 on Monday. The business’s fifty day simple moving average is $40.38 and its 200 day simple moving average is $45.67. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $56.14. The firm has a market capitalization of $8.63 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. As a group, analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current year.

Institutional Trading of Rexford Industrial Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty during the second quarter worth about $41,000. GAMMA Investing LLC increased its stake in Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 976 shares during the last quarter. Archer Investment Corp raised its holdings in shares of Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $129,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.