Scotiabank Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price objective lowered by equities researchers at Scotiabank from $47.00 to $39.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 16.33% from the company’s current price.

Several other research firms have also weighed in on REXR. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price on the stock. Barclays dropped their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, March 25th. Mizuho cut their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of 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. Finally, Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.17.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR traded down $1.15 on Monday, reaching $33.53. 2,057,692 shares of the company were exchanged, compared to its average volume of 2,232,377. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 1-year low of $32.27 and a 1-year high of $52.61. The company has a 50-day moving average of $40.11 and a 200-day moving average of $41.90. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors have recently added to or reduced their stakes in the company. Rush Island Management LP acquired a new position in shares of Rexford Industrial Realty during the fourth quarter worth $132,701,000. Norges Bank purchased a new position in Rexford Industrial Realty in the 4th quarter valued at about $104,685,000. Long Pond Capital LP purchased a new position in Rexford Industrial Realty in the 4th quarter valued at about $58,595,000. Northern Trust Corp raised its position in shares of 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 valued at $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. Finally, Resolution Capital Ltd acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at about $52,025,000. Hedge funds and other 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.