JPMorgan Chase & Co. Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $44.00

Rexford Industrial Realty (NYSE:REXR) had its target price cut by research analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.32% from the company’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial decreased their price objective 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. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.75.

Rexford Industrial Realty Stock Performance

REXR stock traded up $0.25 during midday trading on Thursday, reaching $40.25. 261,653 shares of the company’s stock traded hands, compared to its average volume of 2,124,834. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 52-week low of $36.92 and a 52-week high of $53.88. The stock has a market cap of $8.95 billion, a P/E ratio of 33.26, a PEG ratio of 2.28 and a beta of 0.95. The stock’s 50-day moving average is $39.60 and its 200 day moving average is $44.64.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, analysts anticipate that Rexford Industrial Realty will post 2.39 EPS for the current year.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of REXR. Polymer Capital Management US LLC bought a new position in shares of Rexford Industrial Realty in the 4th quarter worth $323,000. Cerity Partners LLC lifted its position in shares of Rexford Industrial Realty by 1.8% during the fourth quarter. Cerity Partners LLC now owns 40,029 shares of the real estate investment trust’s stock valued at $1,586,000 after buying an additional 697 shares during the last quarter. Sun Life Financial Inc. lifted its position in shares of Rexford Industrial Realty by 7.3% during the fourth quarter. Sun Life Financial Inc. now owns 160,448 shares of the real estate investment trust’s stock valued at $6,203,000 after buying an additional 10,870 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at about $65,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $3,419,000. Institutional investors own 99.52% of the company’s stock.

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.