Rexford Industrial Realty Inc (NASDAQ:REXR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, August 31st. The firm currently has a $33.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.15% 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. “
Other equities analysts have also issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $33.00 price target (up previously from $30.00) on shares of Rexford Industrial Realty in a research note on Thursday, July 13th. FBR & Co assumed coverage on Rexford Industrial Realty in a research note on Tuesday, July 11th. They issued a “mkt perform” rating and a $26.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, July 25th. Wunderlich reiterated a “hold” rating and issued a $24.00 price target (up previously from $22.00) on shares of Rexford Industrial Realty in a research note on Tuesday, May 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target on shares of Rexford Industrial Realty in a research note on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.86.
Rexford Industrial Realty (NASDAQ:REXR) traded down 0.83% during trading on Thursday, hitting $29.96. The stock had a trading volume of 1,319,579 shares. The company’s 50-day moving average is $28.99 and its 200 day moving average is $26.31. Rexford Industrial Realty has a 52 week low of $20.05 and a 52 week high of $30.60. The firm has a market cap of $2.12 billion and a PE ratio of 64.15.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.23. Rexford Industrial Realty had a return on equity of 7.84% and a net margin of 53.98%. The firm had revenue of $36.78 million for the quarter, compared to analyst estimates of $36.75 million. During the same quarter last year, the company earned $0.22 EPS. The company’s revenue was up 20.2% on a year-over-year basis. Equities analysts expect that Rexford Industrial Realty will post $0.36 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Rexford Industrial Realty during the 4th quarter worth about $580,000. Sei Investments Co. lifted its holdings in Rexford Industrial Realty by 5.4% during the 1st quarter. Sei Investments Co. now owns 514,163 shares of the company’s stock worth $11,578,000 after buying an additional 26,148 shares during the period. Prudential Financial Inc. lifted its holdings in Rexford Industrial Realty by 2.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,584,629 shares of the company’s stock worth $43,482,000 after buying an additional 44,630 shares during the period. Vanguard Group Inc. lifted its holdings in Rexford Industrial Realty by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,917,485 shares of the company’s stock worth $178,301,000 after buying an additional 91,731 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Rexford Industrial Realty by 35.7% during the 1st quarter. Fisher Asset Management LLC now owns 71,540 shares of the company’s stock worth $1,611,000 after buying an additional 18,806 shares during the period.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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