Rexford Industrial Realty’s (REXR) Buy Rating Reiterated at Stifel Nicolaus
Rexford Industrial Realty Inc (NASDAQ:REXR)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $33.00 price target on the stock, up from their prior price target of $30.00. Stifel Nicolaus’ price objective would suggest a potential upside of 9.56% from the stock’s previous close.
A number of other research firms have also recently weighed in on REXR. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of Rexford Industrial Realty in a research note on Thursday, August 24th. National Securities raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $32.00 in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, August 22nd. FBR & Co boosted their target price on shares of Rexford Industrial Realty from $26.00 to $27.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 8th. Finally, DA Davidson reiterated a “buy” rating and set a $33.00 price target (up previously from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Rexford Industrial Realty has an average rating of “Buy” and an average price target of $30.86.
Rexford Industrial Realty (REXR) traded up 1.10% on Thursday, reaching $30.45. The company’s stock had a trading volume of 271,504 shares. The firm’s 50 day moving average is $28.81 and its 200-day moving average is $26.21. The firm has a market cap of $2.16 billion and a P/E ratio of 65.20. Rexford Industrial Realty has a 12 month low of $20.05 and a 12 month high of $30.60.
Rexford Industrial Realty (NASDAQ:REXR) last posted its earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $36.78 million for the quarter, compared to analysts’ expectations of $36.75 million. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that Rexford Industrial Realty will post $0.36 EPS for the current year.
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A number of hedge funds have recently added to or reduced their stakes in REXR. BlackRock Inc. lifted its holdings in Rexford Industrial Realty by 1,607.5% in the first quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock valued at $131,347,000 after buying an additional 5,490,976 shares during the period. Vanguard Group Inc. increased its stake in Rexford Industrial Realty by 16.2% in the second quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock valued at $252,449,000 after purchasing an additional 1,282,548 shares in the last quarter. Renaissance Technologies LLC increased its stake in Rexford Industrial Realty by 191.9% in the second quarter. Renaissance Technologies LLC now owns 673,300 shares of the company’s stock valued at $18,475,000 after purchasing an additional 442,600 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Rexford Industrial Realty by 40.2% in the second quarter. Russell Investments Group Ltd. now owns 1,442,941 shares of the company’s stock valued at $39,568,000 after purchasing an additional 413,653 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Rexford Industrial Realty in the first quarter valued at $8,304,000.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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