Rexford Industrial Realty (REXR) Cut to “Hold” at Zacks Investment Research

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. “

Several other brokerages have also recently commented on REXR. Jefferies Group reissued a “buy” rating and set a $34.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, September 26th. JPMorgan Chase & Co. cut 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 boosted their price target on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the stock 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.78.

Shares of Rexford Industrial Realty (NYSE:REXR) traded up $0.47 during midday trading on Friday, reaching $28.79. 350,715 shares of the company were exchanged, compared to its average volume of 415,785. The firm has a market cap of $2,265.30, a price-to-earnings ratio of 66.96, a PEG ratio of 3.51 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Rexford Industrial Realty has a 12-month low of $21.34 and a 12-month high of $31.71.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $43.30 million during the quarter, compared to analyst estimates of $41.77 million. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. analysts expect that Rexford Industrial Realty will post 0.96 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of REXR. Victory Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 71 shares during the period. Advisor Group Inc. raised its holdings in shares of Rexford Industrial Realty by 13.6% in the 2nd 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rexford Industrial Realty by 10.9% in the 2nd 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 during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at about $159,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at about $222,000.

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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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