Barclays Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $38.00

Rexford Industrial Realty (NYSE:REXR) had its price target reduced by analysts at Barclays from $41.00 to $38.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential downside of 4.75% from the company’s previous close.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft assumed 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. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Robert W. Baird dropped their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $39.90 on Tuesday. The firm’s fifty day simple moving average is $40.35 and its 200-day simple moving average is $42.57. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $52.61. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $33,000. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Rexford Industrial Realty in the fourth quarter worth $65,000. Finally, Quarry LP lifted its position in shares of Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,869 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 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.