Rexford Industrial Realty (NYSE:REXR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm presently has a $62.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.40% from the company’s current price.
According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. Rexford Industrial Realty, Inc. is based in Los Angeles, California. “
Separately, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Friday, March 26th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.00.
Shares of Rexford Industrial Realty stock opened at $55.16 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.45 and a quick ratio of 6.46. The firm has a market cap of $7.25 billion, a P/E ratio of 95.10, a P/E/G ratio of 5.10 and a beta of 0.59. The firm has a 50 day simple moving average of $51.14 and a 200 day simple moving average of $49.39. Rexford Industrial Realty has a fifty-two week low of $35.68 and a fifty-two week high of $57.23.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Tuesday, April 20th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Rexford Industrial Realty had a net margin of 26.29% and a return on equity of 3.14%. The firm had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $99.71 million. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, sell-side analysts expect that Rexford Industrial Realty will post 1.31 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Rexford Industrial Realty by 6.1% during the fourth quarter. BlackRock Inc. now owns 17,804,507 shares of the real estate investment trust’s stock worth $874,380,000 after purchasing an additional 1,026,031 shares in the last quarter. PGGM Investments lifted its position in Rexford Industrial Realty by 1.2% in the 4th quarter. PGGM Investments now owns 8,390,819 shares of the real estate investment trust’s stock valued at $412,073,000 after acquiring an additional 101,000 shares in the last quarter. Principal Financial Group Inc. lifted its position in Rexford Industrial Realty by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 8,049,199 shares of the real estate investment trust’s stock valued at $395,295,000 after acquiring an additional 104,326 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Rexford Industrial Realty by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,469,304 shares of the real estate investment trust’s stock valued at $121,267,000 after acquiring an additional 116,231 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Rexford Industrial Realty by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,436,690 shares of the real estate investment trust’s stock valued at $119,665,000 after acquiring an additional 249,221 shares in the last quarter. 98.73% of the stock is currently owned by 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, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.
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