Scotiabank Lowers Rexford Industrial Realty (NYSE:REXR) Price Target to $39.00

Rexford Industrial Realty (NYSE:REXR) had its price target lowered by research analysts at Scotiabank from $47.00 to $39.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 16.33% from the company’s current price.

Several other analysts have also recently commented on REXR. Robert W. Baird decreased their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Barclays lowered their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, March 25th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, Mizuho cut their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.17.

Rexford Industrial Realty Price Performance

NYSE REXR traded down $1.15 on Monday, reaching $33.53. 2,057,692 shares of the stock traded hands, compared to its average volume of 2,232,377. Rexford Industrial Realty has a 12 month low of $32.27 and a 12 month high of $52.61. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.62 and a beta of 0.99. The firm’s fifty day simple moving average is $40.11 and its 200 day simple moving average is $41.90. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, research analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Rexford Industrial Realty by 243.8% in the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after acquiring an additional 195,496 shares during the last quarter. HighTower Advisors LLC lifted its stake in Rexford Industrial Realty by 256.6% in the 3rd quarter. HighTower Advisors LLC now owns 57,431 shares of the real estate investment trust’s stock valued at $2,909,000 after purchasing an additional 41,324 shares during the last quarter. IHT Wealth Management LLC boosted its position in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 296 shares in the last quarter. Quantinno Capital Management LP boosted its position in Rexford Industrial Realty by 14.3% in the third quarter. Quantinno Capital Management LP now owns 13,939 shares of the real estate investment trust’s stock valued at $701,000 after buying an additional 1,744 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Rexford Industrial Realty by 2.7% during the third quarter. Stifel Financial Corp now owns 53,402 shares of the real estate investment trust’s stock worth $2,687,000 after buying an additional 1,380 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.