Rexford Industrial Realty (NYSE:REXR) Stock Rating Lowered by JPMorgan Chase & Co.

Rexford Industrial Realty (NYSE:REXRGet Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Wednesday, FinViz reports. They currently have a $55.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.02% from the company’s previous close.

Several other brokerages have also recently commented on REXR. Truist Financial decreased their target price on Rexford Industrial Realty from $56.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. Scotiabank upgraded Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and set a $55.00 target price for the company in a research report on Wednesday, November 8th. Robert W. Baird reiterated a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Stifel Nicolaus cut their target price on Rexford Industrial Realty from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, October 19th. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.33.

Read Our Latest Report on REXR

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $52.88 on Wednesday. The business has a fifty day simple moving average of $54.46 and a 200 day simple moving average of $51.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 50.36, a PEG ratio of 1.98 and a beta of 0.89. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $65.07.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its stake in Rexford Industrial Realty by 139.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,339 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 4,277 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Rexford Industrial Realty in the first quarter valued at $882,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Rexford Industrial Realty by 37.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,575 shares of the real estate investment trust’s stock valued at $1,087,000 after acquiring an additional 3,978 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rexford Industrial Realty by 7.5% in the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after acquiring an additional 1,587,612 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Rexford Industrial Realty in the first quarter valued at $1,157,000. Institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

(Get Free Report)

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.

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