Rexford Industrial Realty (REXR) Rating Increased to Buy at Zacks Investment Research

Share on StockTwits

Rexford Industrial Realty (NYSE:REXR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm currently has a $43.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.45% from the company’s previous close.

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. “

Separately, Wells Fargo & Co lifted their target price on Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, March 14th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.33.

NYSE:REXR opened at $38.24 on Friday. Rexford Industrial Realty has a fifty-two week low of $28.17 and a fifty-two week high of $39.21. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.95 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.87.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The business had revenue of $60.36 million for the quarter, compared to the consensus estimate of $60.05 million. During the same quarter last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities analysts expect that Rexford Industrial Realty will post 1.2 EPS for the current fiscal year.

In related news, General Counsel David E. Lanzer sold 5,085 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the sale, the general counsel now owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in shares of Rexford Industrial Realty by 4.0% during the 4th quarter. California State Teachers Retirement System now owns 144,474 shares of the real estate investment trust’s stock worth $4,258,000 after purchasing an additional 5,540 shares during the last quarter. Timbercreek Investment Management Inc. increased its position in shares of Rexford Industrial Realty by 48.8% during the 1st quarter. Timbercreek Investment Management Inc. now owns 362,731 shares of the real estate investment trust’s stock worth $12,989,000 after purchasing an additional 119,031 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Rexford Industrial Realty by 115.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after purchasing an additional 1,400,758 shares during the last quarter. United Services Automobile Association increased its position in shares of Rexford Industrial Realty by 247.7% during the 4th quarter. United Services Automobile Association now owns 66,325 shares of the real estate investment trust’s stock worth $1,955,000 after purchasing an additional 47,249 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $29,836,000. 97.50% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

Featured Story: Bid-Ask Spread

Get a free copy of the Zacks research report on Rexford Industrial Realty (REXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Federated Investors Inc. PA Grows Position in GATX Co.
Federated Investors Inc. PA Grows Position in GATX Co.
Steven M. Klein Sells 13,626 Shares of Northfield Bancorp Inc  Stock
Steven M. Klein Sells 13,626 Shares of Northfield Bancorp Inc Stock
$132.32 Million in Sales Expected for Duluth Holdings Inc  This Quarter
$132.32 Million in Sales Expected for Duluth Holdings Inc This Quarter
NumerixS Investment Technologies Inc Has $88,000 Position in First Commonwealth Financial
NumerixS Investment Technologies Inc Has $88,000 Position in First Commonwealth Financial
Stamps.com  Upgraded to Hold by BidaskClub
Stamps.com Upgraded to Hold by BidaskClub
NumerixS Investment Technologies Inc Buys 800 Shares of Solaredge Technologies Inc
NumerixS Investment Technologies Inc Buys 800 Shares of Solaredge Technologies Inc


© 2006-2019 Ticker Report