Robert W. Baird Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price target dropped by stock analysts at Robert W. Baird from $48.00 to $47.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective would indicate a potential upside of 13.35% from the stock’s current price.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays reduced their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Mizuho reduced their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Truist Financial reduced their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Rexford Industrial Realty Stock Up 2.6 %

Shares of REXR opened at $41.46 on Tuesday. The company has a market capitalization of $9.45 billion, a P/E ratio of 34.27, 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 has a one year low of $36.92 and a one year high of $53.88. The business’s 50 day simple moving average is $39.91 and its 200-day simple moving average is $43.72.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, sell-side analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock worth $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 26.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 32.3% during the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock worth $173,667,000 after purchasing an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rexford Industrial Realty by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust’s stock worth $160,282,000 after purchasing an additional 70,710 shares in the last quarter. Finally, Rush Island Management LP bought a new position in Rexford Industrial Realty during the 4th quarter worth about $132,701,000. 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.