Scotiabank Gives Rexford Industrial Realty Upgrade to ‘Sector Outperform’ Rating
November 16, 2023
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Scotiabank has recently given Rexford Industrial Realty ($NYSE:REXR) (REX) an upgrade to a “Sector Outperform” rating. This is great news for investors in the real estate investment trust, as it implies that the company is expected to outperform its peers in the sector. REX is a publicly traded real estate investment trust (REIT) focused on the acquisition, ownership, and operation of industrial properties in Southern California, Arizona, and Nevada. By investing in REX, investors benefit from the trust’s ability to generate consistent income through leases. Furthermore, the REIT has a solid management team with extensive experience in the industrial real estate market.
Finally, by being listed on the New York Stock Exchange, REX provides investors with greater liquidity and transparency. Given its excellent prospects, it appears that Scotiabank’s decision to upgrade REX to a “Sector Outperform” rating is justified. For potential investors looking for attractive opportunities in the industrial real estate sector, Rexford Industrial Realty is certainly worth considering.
Share Price
On Monday, Rexford Industrial Realty saw its stock open at $44.6 before closing the day at $44.5, representing a 1.4% decrease from its last closing price of $45.1. This decline occurred in spite of the fact that Scotiabank had just upgraded Rexford Industrial Realty’s rating from ‘sector perform’ to ‘sector outperform’. This upgrade from the Scotiabank analysts suggests that the company is likely to outperform its sector peers in the near future. Rexford Industrial Realty has been performing well in recent months and this upgrade adds further validity to its continued success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for REXR. More…
| Total Revenues | Net Income | Net Margin |
| 765.99 | 206.49 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for REXR. More…
| Operations | Investing | Financing |
| 378.31 | -1.67k | 1.33k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for REXR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.58k | 2.73k | 34.66 |
Key Ratios Snapshot
Some of the financial key ratios for REXR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 36.4% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has conducted an analysis of REXFORD INDUSTRIAL REALTY’s fundamentals. According to our Star Chart, REXFORD INDUSTRIAL REALTY is classified as a ‘cow’, a type of company with a track record of paying out consistent and sustainable dividends. This means that REXFORD INDUSTRIAL REALTY is strongly positioned in terms of assets, dividends, and growth, and has a medium position in profitability. Moreover, REXFORD INDUSTRIAL REALTY has a high health score of 10/10 with regard to its cashflows and debt, meaning that it is well positioned to sustain future operations in times of crisis. This makes it an attractive option for investors looking for steady dividend yields and reliable returns. Overall, GoodWhale concludes that REXFORD INDUSTRIAL REALTY is an attractive option for investors looking for reliable returns and consistent dividend yields. More…
Peers
Rexford Industrial Real Estate Trust is a real estate investment trust focused on the ownership of industrial properties in the United States. The company’s competitors include FIBRA Macquarie, First Industrial Realty Trust Inc, and Orix Jreit Inc.
– FIBRA Macquarie ($OTCPK:DBMBF)
FIBRA Macquarie is a Mexican real estate investment trust (REIT) that invests in income-producing real estate, primarily industrial properties, in Mexico. As of December 31, 2020, the company’s portfolio consisted of 106 properties with a total gross leasable area of approximately 16.6 million square feet. FIBRA Macquarie is the largest industrial REIT in Mexico and is one of the largest REITs in Latin America.
– First Industrial Realty Trust Inc ($NYSE:FR)
First Industrial Realty Trust is a real estate investment trust that owns and operates industrial properties. The company has a market cap of $5.82 billion as of 2022. First Industrial Realty Trust’s portfolio consists of over 1,800 properties, totaling approximately 140 million square feet of space. The company’s properties are located in 26 states and Canada, and are leased to over 2,200 customers. First Industrial Realty Trust is headquartered in Chicago, Illinois.
– Orix Jreit Inc ($TSE:8954)
Orix Jreit Inc is a Japanese real estate investment trust that was founded in 2002. The company invests in a variety of real estate assets, including office buildings, retail properties, and warehouses. As of March 31, 2021, Orix Jreit’s portfolio consisted of 222 properties with a total value of approximately JPY 1.8 trillion. The company is headquartered in Tokyo and its shares are listed on the Tokyo Stock Exchange.
Summary
Scotiabank has upgraded Rexford Industrial Realty to “Sector Outperform”, indicating a positive outlook on the company. Investment analysis on Rexford Industrial Realty has revealed strong fundamentals, such as a solid balance sheet, diversified tenant base, and strong occupancy.
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