Rexford Industrial Realty (NYSE:REXR) had its target price upped by JPMorgan Chase & Co. from $43.00 to $47.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.93% from the stock’s current price.
A number of other equities analysts have also weighed in on REXR. ValuEngine lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Citigroup boosted their target price on Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.40.
Shares of NYSE:REXR opened at $47.44 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 5.82. Rexford Industrial Realty has a 1 year low of $28.17 and a 1 year high of $48.80. The firm has a market capitalization of $5.31 billion, a PE ratio of 42.36, a P/E/G ratio of 5.57 and a beta of 0.77. The business’s 50 day moving average price is $46.84 and its 200-day moving average price is $43.02.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The firm had revenue of $68.06 million during the quarter, compared to the consensus estimate of $67.50 million. During the same period in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, analysts expect that Rexford Industrial Realty will post 1.22 earnings per share for the current year.
In other news, CEO Michael S. Frankel sold 35,463 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $47.97, for a total value of $1,701,160.11. Following the transaction, the chief executive officer now owns 71,834 shares of the company’s stock, valued at approximately $3,445,876.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Adeel Khan sold 49,721 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $46.01, for a total value of $2,287,663.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,720 shares of company stock valued at $4,583,782. 1.70% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Assetmark increased its stake in Rexford Industrial Realty by 576.1% in the 3rd quarter. Assetmark now owns 298,653 shares of the real estate investment trust’s stock valued at $4,118,000 after purchasing an additional 254,481 shares in the last quarter. Manning & Napier Advisors grew its holdings in Rexford Industrial Realty by 39.3% in the fourth quarter. Manning & Napier Advisors now owns 432,698 shares of the real estate investment trust’s stock valued at $7,078,000 after purchasing an additional 122,104 shares during the last quarter. Fisher Asset Management increased its position in shares of Rexford Industrial Realty by 30.3% in the fourth quarter. Fisher Asset Management now owns 139,513 shares of the real estate investment trust’s stock valued at $2,282,000 after buying an additional 32,450 shares in the last quarter. Shinko Asset Management Co. Ltd. raised its stake in shares of Rexford Industrial Realty by 29.1% during the 4th quarter. Shinko Asset Management Co. Ltd. now owns 142,446 shares of the real estate investment trust’s stock worth $2,330,000 after buying an additional 32,104 shares during the last quarter. Finally, DIAM Co. Ltd. boosted its position in shares of Rexford Industrial Realty by 5.2% in the 4th quarter. DIAM Co. Ltd. now owns 196,197 shares of the real estate investment trust’s stock worth $3,250,000 after buying an additional 9,627 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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