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

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by analysts at Mizuho from $46.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective suggests a potential upside of 17.92% from the company’s previous close.

Several other research firms have also weighed in on REXR. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Truist Financial cut 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, Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.73.

Rexford Industrial Realty Trading Down 0.8 %

NYSE REXR traded down $0.32 on Wednesday, hitting $38.16. 407,244 shares of the company were exchanged, compared to its average volume of 1,337,092. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty has a twelve month low of $37.67 and a twelve month high of $56.87. The firm has a market capitalization of $8.49 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company’s 50 day moving average price is $41.08 and its 200-day moving average price is $45.98.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. boosted its position in shares of Rexford Industrial Realty by 4.7% during the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 224 shares during the period. IHT Wealth Management LLC increased its stake in shares of Rexford Industrial Realty by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 296 shares during the last quarter. Victory Capital Management Inc. raised its stake in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after buying an additional 345 shares during the period. Naviter Wealth LLC raised its stake in Rexford Industrial Realty by 2.6% in the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock valued at $756,000 after acquiring an additional 382 shares during the period. Finally, M&T Bank Corp raised its position in shares of Rexford Industrial Realty by 1.5% in the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.