Rexford Industrial Realty (NYSE:REXR – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
Other equities analysts also recently issued reports about the stock. Mizuho upgraded shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $41.00 in a report on Tuesday, October 13th. Citigroup lowered their target price on Rexford Industrial Realty from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Thursday, August 6th. Truist Financial boosted their target price on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Cantor Fitzgerald dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $40.87.
Check Out Our Latest Stock Report on REXR
Rexford Industrial Realty Trading Down 0.1%
Shares of NYSE REXR opened at $38.16 on Friday. Rexford Industrial Realty has a one year low of $32.14 and a one year high of $42.41. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $8.10 billion, a PE ratio of -18.09 and a beta of 1.11. The business has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $36.46.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.53). The business had revenue of $239.10 million for the quarter, compared to analyst estimates of $232.95 million. Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. Rexford Industrial Realty’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, analysts predict that Rexford Industrial Realty will post 2.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rexford Industrial Realty
Several large investors have recently added to or reduced their stakes in REXR. BlackRock Inc. acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $1,293,168,000. Dimensional Fund Advisors LP increased its stake in shares of Rexford Industrial Realty by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock worth $117,239,000 after purchasing an additional 85,135 shares during the last quarter. Legal & General Group Plc acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $86,861,000. Bank of America Corp DE acquired a new position in Rexford Industrial Realty in the second quarter worth $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Rexford Industrial Realty by 41,558.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock valued at $55,431,000 after buying an additional 1,650,693 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.
The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.
Rexford Industrial Realty became a publicly traded company in 2013.
Featured Stories
- Five stocks we like better than Rexford Industrial Realty
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.
