Mizuho Lowers Rexford Industrial Realty (NYSE:REXR) Price Target to $45.00

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by equities research analysts at Mizuho from $46.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target points to a potential upside of 17.74% from the stock’s previous close.

A number of other equities research analysts have also commented on REXR. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.73.

Rexford Industrial Realty Trading Down 0.7 %

NYSE:REXR opened at $38.22 on Wednesday. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty has a 1-year low of $37.67 and a 1-year high of $56.87. The business’s 50-day moving average price is $40.86 and its two-hundred day moving average price is $45.88. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, equities analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. UMB Bank n.a. lifted its position in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC acquired a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at approximately $41,000. GAMMA Investing LLC lifted its holdings in shares of Rexford Industrial Realty by 111.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 976 shares during the period. Archer Investment Corp boosted its position in shares of Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Rexford Industrial Realty in the third quarter valued at approximately $129,000. 99.52% of the stock is owned by institutional investors.

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.