Rexford Industries lowers stock target based on latest financial model

On Monday, JPMorgan revised its price target for real estate investment trust Rexford Industrial Realty (NYSE: REXR). The company has lowered its price target to $47.00 from $55.00 previously, while maintaining a neutral rating on the stock.

The adjustment follows JPMorgan Chase's recent update to the company's financial model after Rexford reported first-quarter 2024 earnings. Still, the forecast for 2025 was revised up slightly to $2.66, up from the previous forecast of $2.63.

The new December 2024 stock price target of $47.00 per share reflects JPMorgan's latest model revision for Rexford Industrial Realty. The target is based on the company's performance expectations through the end of 2024.

Rexford Industrial Realty specializes in the acquisition, ownership and operation of industrial properties in Southern California. As a real estate investment trust, a company's financial performance is often measured through metrics such as FFO, which can provide insight into a company's operating performance.

Maintaining a Neutral rating indicates that JPMorgan's outlook on Rexford stock remains unchanged, despite the revised target price. This suggests that the company currently sees no major positive or negative catalysts that would change its investment stance on Rexford.

Investment Professional Insights

InvestingPro's real-time data and insights can provide investors with more context now that JPMorgan has revised its price target on Rexford Industrial Realty. The company has a market capitalization of approximately $9.78 billion and a P/E ratio of 39.51, which is higher than the industry average, indicating that the stock is valued at a premium.

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Although the stock price has fallen 14.12% in the past month and 19.85% in three months, Rexford has maintained consistent dividend growth and has raised dividends for 11 consecutive years.

InvestingPro Tips shows analysts expect sales growth this year, which could be a positive sign for potential investors. Additionally, the stock's RSI suggests it's in oversold territory, which may be of interest to value-oriented investors looking for a rebound.

For those considering a deeper look at Rexford's financial health and future prospects, 8 additional InvestingPro Tips are available at access these tips, use the coupon code PRONEWS24 Annual or biennial Pro and Pro+ subscriptions receive an additional 10% discount.

Investors should also note that the company's revenue grew 22.02% over the past 12 months as of the first quarter of 2024, and its gross profit margin was 77.09%, reflecting strong operating efficiency. These indicators, along with InvestingPro Tips, can help investors make more informed decisions regarding their interest in Rexford Industrial Realty.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

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