Zacks Investment Research Lowers Rexford Industrial Realty (REXR) to Hold

Rexford Industrial Realty (NYSE:REXR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “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. “

A number of other analysts also recently weighed in on the stock. Jefferies Group reissued a “buy” rating and set a $34.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, September 26th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 26th. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Citigroup increased their target price on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Finally, B. Riley reissued a “neutral” rating on shares of Rexford Industrial Realty in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.78.

Rexford Industrial Realty (NYSE:REXR) traded down $0.76 during trading on Friday, hitting $28.32. The stock had a trading volume of 415,100 shares, compared to its average volume of 421,208. Rexford Industrial Realty has a one year low of $21.34 and a one year high of $31.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $2,265.30, a P/E ratio of 65.86, a P/E/G ratio of 3.51 and a beta of 0.77.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The company had revenue of $43.30 million during the quarter, compared to the consensus estimate of $41.77 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. equities research analysts predict that Rexford Industrial Realty will post 0.96 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its holdings in shares of Rexford Industrial Realty by 8.6% during the 4th quarter. State of Alaska Department of Revenue now owns 44,270 shares of the real estate investment trust’s stock worth $1,290,000 after buying an additional 3,510 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 13.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 818,734 shares of the real estate investment trust’s stock worth $23,875,000 after buying an additional 97,035 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Rexford Industrial Realty by 8.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 80,133 shares of the real estate investment trust’s stock worth $2,293,000 after buying an additional 6,461 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $978,000. Finally, Davis Selected Advisers boosted its holdings in shares of Rexford Industrial Realty by 50.1% during the 3rd quarter. Davis Selected Advisers now owns 314,670 shares of the real estate investment trust’s stock worth $9,006,000 after buying an additional 104,990 shares in the last quarter.

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Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

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Analyst Recommendations for Rexford Industrial Realty (NYSE:REXR)

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