Rexford Industrial Realty Inc (NASDAQ:REXR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, October 4th. The brokerage currently has a $33.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 8.87% from the company’s previous close.

According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. Rexford Industrial Realty, Inc. is based in Los Angeles, California. “

REXR has been the subject of a number of other reports. Jefferies Group LLC reiterated a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of Rexford Industrial Realty in a research note on Thursday, August 24th. National Securities upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $32.00 in a research note on Tuesday, August 29th. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target (up from $27.50) on shares of Rexford Industrial Realty in a research report on Wednesday, June 14th. Finally, FBR & Co raised their price target on shares of Rexford Industrial Realty from $26.00 to $27.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Rexford Industrial Realty currently has a consensus rating of “Buy” and a consensus price target of $30.63.

Rexford Industrial Realty (REXR) traded down 0.46% on Wednesday, hitting $30.31. The stock had a trading volume of 497,038 shares. Rexford Industrial Realty has a 12-month low of $20.05 and a 12-month high of $30.66. The company has a 50 day moving average of $29.68 and a 200 day moving average of $27.36. The company has a market capitalization of $2.15 billion and a PE ratio of 64.90.

Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The company had revenue of $36.78 million for the quarter, compared to analysts’ expectations of $36.75 million. During the same period in the prior year, the business earned $0.22 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts expect that Rexford Industrial Realty will post $0.36 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in REXR. BlackRock Inc. boosted its stake in Rexford Industrial Realty by 1,607.5% during the 1st quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock worth $131,347,000 after purchasing an additional 5,490,976 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rexford Industrial Realty by 16.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock worth $252,449,000 after purchasing an additional 1,282,548 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Rexford Industrial Realty by 191.9% during the 2nd quarter. Renaissance Technologies LLC now owns 673,300 shares of the company’s stock worth $18,475,000 after purchasing an additional 442,600 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Rexford Industrial Realty by 40.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,442,941 shares of the company’s stock worth $39,568,000 after purchasing an additional 413,653 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Rexford Industrial Realty during the 1st quarter worth $8,304,000.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

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Analyst Recommendations for Rexford Industrial Realty (NASDAQ:REXR)

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