JPMorgan Chase & Co. Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its target price dropped by analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.32% from the company’s previous close.

Other analysts have also issued reports about the company. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank lowered 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, Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.75.

Rexford Industrial Realty Stock Up 0.6 %

NYSE REXR traded up $0.25 on Thursday, reaching $40.25. The company had a trading volume of 261,653 shares, compared to its average volume of 2,124,834. The stock has a market capitalization of $8.95 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.28 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 52-week low of $36.92 and a 52-week high of $53.88. The company’s fifty day moving average is $39.60 and its 200 day moving average is $44.64.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Polymer Capital Management US LLC bought a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $323,000. Cerity Partners LLC raised its holdings in Rexford Industrial Realty by 1.8% during the 4th quarter. Cerity Partners LLC now owns 40,029 shares of the real estate investment trust’s stock valued at $1,586,000 after buying an additional 697 shares during the last quarter. Sun Life Financial Inc. boosted its position in Rexford Industrial Realty by 7.3% during the 4th quarter. Sun Life Financial Inc. now owns 160,448 shares of the real estate investment trust’s stock valued at $6,203,000 after buying an additional 10,870 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in Rexford Industrial Realty in the 4th quarter worth $65,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at about $3,419,000. 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.