Barclays Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its target price cut by equities research analysts at Barclays from $41.00 to $38.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential downside of 5.37% from the company’s current price.

REXR has been the subject of several other reports. 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 report on Tuesday, March 4th. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $48.25.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $40.16 on Tuesday. 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 $52.61. The company’s fifty day moving average price is $40.31 and its 200 day moving average price is $42.65. The company has a market capitalization of $9.15 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98.

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

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Rexford Industrial Realty during the fourth quarter worth $33,000. UMB Bank n.a. increased its position in shares of Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $65,000. Finally, Quarry LP grew its stake in Rexford Industrial Realty by 239.6% during the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,869 shares during the last quarter. 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.