Rexford Industrial Realty (NYSE:REXR) PT Raised to $58.00 at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) had its target price upped by stock analysts at Evercore ISI from $57.00 to $58.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 14.24% from the company’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Truist Financial upped their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Mizuho dropped their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.09.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded up $0.18 on Monday, reaching $50.77. The stock had a trading volume of 323,044 shares, compared to its average volume of 1,693,371. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The business’s 50-day moving average price is $49.72 and its two-hundred day moving average price is $47.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $11.15 billion, a P/E ratio of 46.58, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. On average, sell-side analysts forecast that Rexford Industrial Realty will post 2.35 EPS for the current year.

Insider Activity

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Rexford Industrial Realty during the second quarter valued at approximately $947,000. Point72 Asset Management L.P. bought a new stake in Rexford Industrial Realty during the 2nd quarter valued at $6,219,000. Creative Planning raised its position in shares of Rexford Industrial Realty by 27.1% in the 2nd quarter. Creative Planning now owns 17,913 shares of the real estate investment trust’s stock worth $799,000 after acquiring an additional 3,824 shares in the last quarter. Long Pond Capital LP lifted its stake in shares of Rexford Industrial Realty by 2.3% during the 2nd quarter. Long Pond Capital LP now owns 1,053,505 shares of the real estate investment trust’s stock worth $46,976,000 after purchasing an additional 23,290 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Rexford Industrial Realty by 28.5% during the second quarter. The Manufacturers Life Insurance Company now owns 370,696 shares of the real estate investment trust’s stock valued at $16,529,000 after purchasing an additional 82,286 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.