Why Has Stifel Given Rexford Industrial Realty (NYSE:REXR) a $18 Price Target
Analysts at Stifel launched coverage on shares of Rexford Industrial Realty (NYSE:REXR) in an interesting research report issued to investors and clients on 16 December. The brokerage set “Buy” rating on the stock. Stifel’s target PPS of $18 suggests potential of 13.21% from the stock’s last stock close price.
From a total of 8 analysts covering Rexford Industrial (NYSE:REXR) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $18 while the lowest target price is $16. The mean of all analyst targets is $17.25 with a 1.70% above today’s ($15.9) stock price. Rexford Industrial was the topic of 5 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Wells Fargo downgraded shares on December 15 to “Market Perform” rating. Citigroup maintained REXR stock in a recent report from September 25 with “Neutral” rating.
The stock closed the day at $15.9 during the previous session. It is down 9.81% since May 13, 2015 and is uptrending. It has outperformed by 12.43% the S&P500.
The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.17, from 1.13 in 2015Q2. The ratio fall, as 18 institutions have sold all the shares of Rexford Industrial Realty Inc that they owned while 36 funds have taken shares off the table. 12 funds have purchased shares for the first time while 40 added to their positions. These institutions now hold 49.28 million shares or 3.36% less than the 50.99 million shares they owned in 2015Q2.
The Fund First Foundation Advisors currently is holding shares equating to 5.05% of its total portfolio in Rexford Industrial Realty Inc representing a total of 4.46 million shares. Another fund,Real Estate Management Services Llc, is holding a total of 1.47 million shares equating to 3.14% of their holdings. Additionally, Security Capital Research & Management Inc has a 5.27 million share stake in Rexford Industrial Realty Inc which represents 2.38% of their total portfolio. The Fund, Aew Capital Management L P, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 1.15% of their total portfolio. Finally Schneider Capital Management Corp, a fund which is based in the state of Pennsylvania reported a total holdings of 318,787 shares.
Insider activity is a very important aspect to track on any stock. Going back to September 4, 2015, shareholders of Rexford Industrial Realty Inc have witnessed 3 buys, and a total of 0 selling transactions equating to a net activity of approximately $263,709 . Ziman Richard S bought 10,000 shares worth approximately $127,561. Frankel Michael S. bought 10,000 shares worth approximately $128,550.
Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust focused on owning, operating and acquiring industrial properties in Southern California infill markets. The company has a market cap of $883.85 million. The Firm owns interests in approximately 120 properties with approximately 11.7 million rentable square feet. It has 1086.81 P/E ratio. The Firm also owns 601-605 S.
According to Zacks Investment Research, “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.”