Rexford Industrial Realty (NYSE:REXR) Stock Price Expected to Rise, Evercore ISI Analyst Says
Evercore ISI raised its target price for Rexford Industrial Realty (NYSE:REXR) from $40.00 to $42.00, maintaining an 'in-line' rating. This suggests a potential 3.21% upside from the previous close. Other analysts have mixed ratings, with a consensus 'Hold' and a target price of $43.08. The stock recently traded at $40.69, with a market cap of $9.47 billion. Rexford reported Q3 earnings of $0.60 per share, slightly above estimates, and revenue of $253.24 million. Institutional investors have shown significant interest in the stock.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price objective increased by research analysts at Evercore ISI from $40.00 to $42.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective would indicate a potential upside of 3.21% from the stock's previous close.
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A number of other research analysts also recently issued reports on REXR. Scotiabank upped their price objective on Rexford Industrial Realty from $43.00 to $44.00 and gave the company a "sector perform" rating in a research note on Monday, November 10th. BNP Paribas Exane reiterated a "neutral" rating and set a $47.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, October 21st. Wolfe Research lowered Rexford Industrial Realty from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 20th. Mizuho raised their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, September 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Rexford Industrial Realty in a research report on Wednesday, October 1st. They issued an "overweight" rating and a $50.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.08.
Check Out Our Latest Analysis on REXR
Rexford Industrial Realty Trading Down 0.3%
Shares of Rexford Industrial Realty stock traded down $0.12 on Wednesday, hitting $40.69. 1,657,213 shares of the company's stock traded hands, compared to its average volume of 2,507,896. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 3.05 and a beta of 1.15. Rexford Industrial Realty has a one year low of $29.68 and a one year high of $44.38. The company has a fifty day moving average of $41.90 and a two-hundred day moving average of $38.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 2.95.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The firm had revenue of $253.24 million during the quarter, compared to the consensus estimate of $253.46 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, sell-side analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current year.
Institutional Investors Weigh In On Rexford Industrial Realty
Several hedge funds and other institutional investors have recently made changes to their positions in REXR. Nuveen LLC purchased a new position in shares of Rexford Industrial Realty during the first quarter valued at $146,155,000. Soroban Capital Partners LP grew its position in shares of Rexford Industrial Realty by 57.2% in the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock worth $326,925,000 after buying an additional 3,344,677 shares during the last quarter. Norges Bank acquired a new position in shares of Rexford Industrial Realty during the second quarter worth $104,116,000. Royal London Asset Management Ltd. acquired a new position in Rexford Industrial Realty during the 2nd quarter valued at about $91,671,000. Finally, Nomura Holdings Inc. boosted its holdings in Rexford Industrial Realty by 19,554.8% in the second quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust's stock worth $82,622,000 after acquiring an additional 2,310,988 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.
About Rexford Industrial Realty
(Get Free Report)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.
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