Scotiabank Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its target price lowered by analysts at Scotiabank from $47.00 to $39.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 24.03% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird reduced their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Barclays reduced their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.17.

Rexford Industrial Realty Trading Down 5.9 %

NYSE REXR opened at $31.45 on Monday. The firm’s fifty day moving average price is $39.58 and its 200 day moving average price is $41.56. Rexford Industrial Realty has a 12 month low of $31.08 and a 12 month high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. On average, sell-side analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors have recently modified their holdings of REXR. MassMutual Private Wealth & Trust FSB lifted its holdings in Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 566 shares during the period. Quantbot Technologies LP purchased a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $33,000. UMB Bank n.a. lifted its stake in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings 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. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Rexford Industrial Realty during the fourth quarter worth about $65,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

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.