Scotiabank Forecasts Strong Price Appreciation for Rexford Industrial Realty (NYSE:REXR) Stock

Rexford Industrial Realty (NYSE:REXR) had its price target hoisted by equities research analysts at Scotiabank from $40.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 0.36% from the stock’s current price.

A number of other equities analysts have also recently issued reports on REXR. Evercore ISI cut shares of Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Truist Financial lifted their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Finally, Industrial Alliance Securities set a $44.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $41.36.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $42.85 on Thursday. Rexford Industrial Realty has a 52-week low of $29.68 and a 52-week high of $52.37. The stock has a market cap of $10.14 billion, a PE ratio of 31.74, a PEG ratio of 4.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The firm’s 50 day moving average price is $38.01 and its two-hundred day moving average price is $37.00.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million for the quarter, compared to analysts’ expectations of $251.72 million. During the same period last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current year.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the firm’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Rexford Industrial Realty by 403.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 553 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 566 shares during the last quarter. Bessemer Group Inc. increased its stake in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. Private Trust Co. NA increased its stake in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 370 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 800 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.