Rexford Industrial Realty (NYSE:REXR) Stock Rating Lowered by JPMorgan Chase & Co.

Rexford Industrial Realty (NYSE:REXRGet Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday, FinViz reports. They currently have a $55.00 target price on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.02% from the stock’s previous close.

A number of other analysts have also issued reports on REXR. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Robert W. Baird reissued a “neutral” rating and set a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Scotiabank upgraded shares of Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and set a $55.00 price target for the company in a report on Wednesday, November 8th. Stifel Nicolaus reduced their target price on shares of Rexford Industrial Realty from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. Finally, Truist Financial reduced their target price on shares of Rexford Industrial Realty from $56.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.33.

Get Our Latest Analysis on Rexford Industrial Realty

Rexford Industrial Realty Stock Performance

REXR opened at $52.88 on Wednesday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 50.36, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.66 and a quick ratio of 0.66. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $65.07. The business has a 50 day moving average price of $54.46 and a two-hundred day moving average price of $51.39.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Rexford Industrial Realty by 4.3% during the second quarter. BlackRock Inc. now owns 25,433,049 shares of the real estate investment trust’s stock worth $1,328,114,000 after buying an additional 1,059,123 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rexford Industrial Realty by 7.5% in the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after acquiring an additional 1,587,612 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Rexford Industrial Realty by 0.3% in the third quarter. Principal Financial Group Inc. now owns 13,579,313 shares of the real estate investment trust’s stock valued at $670,137,000 after purchasing an additional 46,811 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Rexford Industrial Realty by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,023,551 shares of the real estate investment trust’s stock valued at $657,556,000 after purchasing an additional 591,329 shares during the period. Finally, State Street Corp increased its holdings in Rexford Industrial Realty by 3.4% during the 2nd quarter. State Street Corp now owns 10,875,167 shares of the real estate investment trust’s stock worth $571,954,000 after acquiring an additional 354,577 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

(Get Free Report)

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.

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Analyst Recommendations for Rexford Industrial Realty (NYSE:REXR)

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