JPMorgan Chase & Co. Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price target reduced by research analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.95% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial cut their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Industrial Alliance Securities set a $55.00 price objective 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, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $48.75.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $40.39 on Thursday. The firm has a 50-day moving average of $39.61 and a two-hundred day moving average of $44.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20. The stock has a market cap of $9.21 billion, a P/E ratio of 33.38, a PEG ratio of 2.28 and a beta of 0.95. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, research analysts expect that Rexford Industrial Realty will post 2.39 earnings per share for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Rexford Industrial Realty in the fourth quarter worth approximately $33,000. UMB Bank n.a. grew its holdings in shares of Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 280 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 1,248 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at $65,000. Finally, Archer Investment Corp boosted its position in shares of Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares during the period. 99.52% of the stock is currently owned by institutional investors.

About Rexford Industrial Realty

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.