Rexford Industrial Realty (NYSE:REXR) PT Raised to $90.00 at Wells Fargo & Company

Rexford Industrial Realty (NYSE:REXRGet Rating) had its target price boosted by stock analysts at Wells Fargo & Company from $81.00 to $90.00 in a research note issued to investors on Thursday, The Fly reports. Wells Fargo & Company‘s target price points to a potential upside of 11.93% from the company’s current price.

Several other brokerages also recently commented on REXR. StockNews.com initiated coverage on Rexford Industrial Realty in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Friday, April 1st. Finally, Robert W. Baird boosted their price target on Rexford Industrial Realty from $86.00 to $103.00 in a research note on Thursday, April 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $84.80.

Shares of NYSE REXR opened at $80.41 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. Rexford Industrial Realty has a 12 month low of $52.47 and a 12 month high of $84.68. The stock has a 50 day moving average of $73.86 and a 200-day moving average of $72.35. The company has a market capitalization of $12.91 billion, a P/E ratio of 91.38, a P/E/G ratio of 4.56 and a beta of 0.76.

Rexford Industrial Realty (NYSE:REXRGet Rating) last issued its earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.07. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. The company had revenue of $140.80 million during the quarter, compared to the consensus estimate of $141.60 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 41.1% compared to the same quarter last year. Analysts predict that Rexford Industrial Realty will post 1.9 EPS for the current fiscal year.

In other news, General Counsel David E. Lanzer sold 11,814 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of REXR. Norges Bank acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth $336,883,000. BlackRock Inc. raised its holdings in shares of Rexford Industrial Realty by 8.6% during the 4th quarter. BlackRock Inc. now owns 19,810,848 shares of the real estate investment trust’s stock worth $1,606,859,000 after buying an additional 1,569,782 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth $108,822,000. State Street Corp raised its holdings in shares of Rexford Industrial Realty by 16.8% during the 4th quarter. State Street Corp now owns 7,251,109 shares of the real estate investment trust’s stock worth $589,854,000 after buying an additional 1,043,035 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Rexford Industrial Realty by 19.4% during the 4th quarter. Invesco Ltd. now owns 5,910,197 shares of the real estate investment trust’s stock worth $479,377,000 after buying an additional 959,157 shares in the last quarter. 99.23% of the stock is owned by institutional investors.

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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