Rexford Industrial Realty (NYSE:REXR)‘s stock had its “hold” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research note issued on Sunday, AnalystRatings.com reports.
REXR has been the subject of several other research reports. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, October 2nd. Robert W. Baird reissued an “outperform” rating and issued a $82.00 target price (up previously from $74.00) on shares of Rexford Industrial Realty in a research report on Monday, October 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $69.25.
NYSE:REXR opened at $75.11 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Rexford Industrial Realty has a 52-week low of $45.90 and a 52-week high of $76.33. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 112.10, a PEG ratio of 3.57 and a beta of 0.67. The business’s fifty day moving average is $67.23 and its 200 day moving average is $62.22.
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Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.11. Rexford Industrial Realty had a return on equity of 2.97% and a net margin of 26.46%. The business had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $111.08 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was up 37.6% on a year-over-year basis. Equities analysts predict that Rexford Industrial Realty will post 1.63 EPS for the current fiscal year.
In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 115,000 shares of the stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $69.66, for a total transaction of $8,010,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC raised its holdings in Rexford Industrial Realty by 118.5% in the 3rd quarter. Balyasny Asset Management LLC now owns 615,957 shares of the real estate investment trust’s stock worth $34,956,000 after purchasing an additional 334,115 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Rexford Industrial Realty by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 1,429,805 shares of the real estate investment trust’s stock worth $81,141,000 after purchasing an additional 36,196 shares during the last quarter. Aurora Investment Counsel increased its holdings in shares of Rexford Industrial Realty by 1.5% in the third quarter. Aurora Investment Counsel now owns 15,844 shares of the real estate investment trust’s stock worth $899,000 after purchasing an additional 230 shares during the last quarter. Tudor Investment Corp Et Al increased its holdings in shares of Rexford Industrial Realty by 168.0% in the third quarter. Tudor Investment Corp Et Al now owns 229,204 shares of the real estate investment trust’s stock worth $13,007,000 after purchasing an additional 143,696 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Rexford Industrial Realty by 20.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 355,945 shares of the real estate investment trust’s stock worth $20,201,000 after purchasing an additional 61,115 shares during the last quarter.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.
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