Rexford Industrial Realty (NYSE:REXR) Rating Lowered to “In-Line” at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) was downgraded by Evercore ISI from an “outperform” rating to an “in-line” rating in a research note issued on Friday, Marketbeat reports. They presently have a $38.00 target price on the real estate investment trust’s stock, down from their prior target price of $39.00. Evercore ISI’s price objective points to a potential upside of 3.94% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a research note on Tuesday, May 6th. Truist Financial reduced their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Barclays reduced their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Scotiabank reduced their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.82.

Rexford Industrial Realty Stock Up 3.2%

Shares of Rexford Industrial Realty stock opened at $36.56 on Friday. The business has a 50-day moving average of $36.10 and a 200-day moving average of $37.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. The company has a market capitalization of $8.65 billion, a PE ratio of 27.08, a P/E/G ratio of 3.35 and a beta of 1.13. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. Rexford Industrial Realty’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, equities analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Rexford Industrial Realty by 403.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. raised its stake in Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA raised its stake in Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 370 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Rexford Industrial Realty during the 4th quarter valued at $33,000. Institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

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.