Rexford Industrial Realty (NYSE:REXR) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Investment analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “hold” rating and a $40.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 4.47% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $49.42.

Rexford Industrial Realty Stock Up 3.0 %

Shares of NYSE REXR opened at $38.29 on Tuesday. The firm’s fifty day moving average is $40.56 and its 200 day moving average is $45.76. Rexford Industrial Realty has a 52 week low of $36.92 and a 52 week high of $56.14. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data 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). The firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, equities research analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors have recently modified their holdings of REXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after acquiring an additional 1,489,876 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Rexford Industrial Realty by 41.9% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after purchasing an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after buying an additional 800,137 shares during the last quarter. Finally, Brookfield Corp ON bought a new stake in Rexford Industrial Realty in the 3rd quarter worth about $13,838,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.