Rexford Industrial Realty (REXR) Raised to “Buy” at Zacks Investment Research

Rexford Industrial Realty (NYSE:REXR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $33.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.75% 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. “

A number of other brokerages have also recently weighed in on REXR. National Securities reiterated a “buy” rating and issued a $34.00 price target on shares of Rexford Industrial Realty in a research report on Monday, November 27th. JPMorgan Chase & Co. cut Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research report on Friday, December 15th. Citigroup upped their price target on Rexford Industrial Realty from $28.50 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. B. Riley restated a “neutral” rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. Finally, BidaskClub upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Rexford Industrial Realty has an average rating of “Buy” and an average target price of $30.78.

Shares of Rexford Industrial Realty (NYSE REXR) traded down $0.29 during mid-day trading on Thursday, hitting $28.51. The stock had a trading volume of 393,379 shares, compared to its average volume of 393,667. Rexford Industrial Realty has a one year low of $21.34 and a one year high of $31.71. The firm has a market capitalization of $2,260.63, a price-to-earnings ratio of 66.30, a PEG ratio of 3.49 and a beta of 0.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $41.77 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. equities analysts expect that Rexford Industrial Realty will post 0.96 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REXR. Victory Capital Management Inc. raised its position in Rexford Industrial Realty by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,743 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 71 shares during the last quarter. Advisor Group Inc. grew its stake in Rexford Industrial Realty by 13.6% in the second quarter. Advisor Group Inc. now owns 3,787 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 453 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rexford Industrial Realty by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,758 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 469 shares in the last quarter. GAM Holding AG grew its stake in Rexford Industrial Realty by 7.5% in the second quarter. GAM Holding AG now owns 5,712 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in Rexford Industrial Realty in the second quarter valued at approximately $159,000. 99.85% of the stock is currently owned by institutional investors.

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About Rexford Industrial Realty

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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