Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $44.00 at JPMorgan Chase & Co.

Rexford Industrial Realty (NYSE:REXR) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.95% from the stock’s previous close.

REXR has been the topic of several other research reports. 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. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a report on Friday, October 18th. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Truist Financial reduced their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.75.

Rexford Industrial Realty Price Performance

REXR opened at $40.39 on Thursday. The firm has a market capitalization of $9.21 billion, a P/E ratio of 33.38, a PEG ratio of 2.28 and a beta of 0.95. The stock has a fifty day moving average of $39.61 and a 200-day moving average of $44.55. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 12-month low of $36.92 and a 12-month high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last announced 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%. Equities analysts forecast that Rexford Industrial Realty will post 2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $104,685,000. Long Pond Capital LP acquired a new stake in Rexford Industrial Realty in the 4th quarter valued at approximately $58,595,000. Northern Trust Corp increased its position in Rexford Industrial Realty by 94.3% in the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock worth $120,025,000 after buying an additional 1,506,779 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after buying an additional 1,489,876 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Rexford Industrial Realty by 32.3% in the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock valued at $173,667,000 after acquiring an additional 1,097,349 shares during the period. Institutional investors own 99.52% of the company’s stock.

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.