Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $44.00 by Analysts at JPMorgan Chase & Co.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 8.95% from the company's previous close.

A number of other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. Truist Financial dropped their price objective on shares of 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. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Barclays cut their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $48.75.

Rexford Industrial Realty Trading Down 0.5 %

Shares of Rexford Industrial Realty stock traded down $0.19 on Thursday, reaching $40.39. 1,570,382 shares of the company were exchanged, compared to its average volume of 1,987,753. 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 fifty-two week low of $36.92 and a fifty-two week high of $53.88. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95. The stock has a fifty day moving average price of $39.61 and a 200-day moving average price of $44.48.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results 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 net margin of 29.10% and a return on equity of 3.26%. On average, analysts expect that Rexford Industrial Realty will post 2.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock worth $1,157,170,000 after purchasing an additional 562,710 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after buying an additional 954,202 shares during the last quarter. Centersquare Investment Management LLC boosted its position in shares of Rexford Industrial Realty by 32.3% in the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after acquiring an additional 1,097,349 shares during the period. Geode Capital Management LLC grew its stake in shares of Rexford Industrial Realty by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock worth $160,282,000 after acquiring an additional 70,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Rexford Industrial Realty by 0.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,367,298 shares of the real estate investment trust's stock worth $130,180,000 after acquiring an additional 28,079 shares during the last quarter. Institutional investors and hedge funds 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.