Rexford Industrial Realty (NYSE:REXR) PT Raised to $103.00 at Robert W. Baird

Rexford Industrial Realty (NYSE:REXRGet Rating) had its price target boosted by equities researchers at Robert W. Baird from $86.00 to $103.00 in a research report issued to clients and investors on Thursday, The Fly reports. Robert W. Baird’s target price indicates a potential upside of 22.82% from the company’s previous close.

Several other brokerages also recently commented on REXR. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Friday, April 1st. StockNews.com began coverage on shares of Rexford Industrial Realty in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company cut their target price on Rexford Industrial Realty from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $83.00.

Shares of REXR stock opened at $83.86 on Thursday. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 104.83, a price-to-earnings-growth ratio of 4.16 and a beta of 0.76. Rexford Industrial Realty has a 52 week low of $52.47 and a 52 week high of $84.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $72.74 and a 200-day moving average of $71.53.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. The company had revenue of $140.80 million during the quarter, compared to the consensus estimate of $141.60 million. Rexford Industrial Realty had a net margin of 28.36% and a return on equity of 3.16%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. Analysts anticipate that Rexford Industrial Realty will post 1.9 earnings per share for the current year.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $70.04, for a total transaction of $827,452.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Lindbrook Capital LLC lifted its stake in Rexford Industrial Realty by 4,627.6% during the 1st quarter. Lindbrook Capital LLC now owns 4,964 shares of the real estate investment trust’s stock valued at $370,000 after acquiring an additional 4,859 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Rexford Industrial Realty by 6.0% during the 1st quarter. Retirement Systems of Alabama now owns 210,280 shares of the real estate investment trust’s stock worth $15,685,000 after purchasing an additional 11,911 shares during the period. Xponance Inc. raised its stake in shares of Rexford Industrial Realty by 4.7% during the 1st quarter. Xponance Inc. now owns 17,603 shares of the real estate investment trust’s stock worth $1,313,000 after purchasing an additional 788 shares during the period. Fifth Third Bancorp raised its stake in shares of Rexford Industrial Realty by 15.5% during the 1st quarter. Fifth Third Bancorp now owns 6,494 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 872 shares during the period. Finally, Spirit of America Management Corp NY bought a new stake in shares of Rexford Industrial Realty during the 1st quarter worth $283,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Rexford Industrial Realty Company Profile (Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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