Rexford Industrial Realty (REXR) Downgraded by Zacks Investment Research to “Sell”

Rexford Industrial Realty (NYSE:REXR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

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. “

REXR has been the topic of several other research reports. TheStreet downgraded shares of Rexford Industrial Realty from a “b” rating to a “c+” rating in a report on Wednesday, August 1st. Capital One Financial upgraded shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 1st. Finally, DA Davidson downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $35.00 in a report on Friday, June 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.00.



REXR opened at $30.80 on Friday. Rexford Industrial Realty has a 52-week low of $26.32 and a 52-week high of $32.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.47 and a current ratio of 8.47. The stock has a market cap of $2.81 billion, a PE ratio of 29.33, a P/E/G ratio of 3.57 and a beta of 0.67.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.20). Rexford Industrial Realty had a net margin of 20.19% and a return on equity of 2.93%. The company had revenue of $51.76 million for the quarter, compared to analyst estimates of $49.60 million. On average, analysts anticipate that Rexford Industrial Realty will post 1.07 earnings per share for the current fiscal year.

In related news, Director Richard S. Ziman sold 102,043 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $31.32, for a total value of $3,195,986.76. Following the transaction, the director now owns 64,918 shares in the company, valued at approximately $2,033,231.76. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of REXR. BlackRock Inc. grew its stake in shares of Rexford Industrial Realty by 15.0% during the 2nd quarter. BlackRock Inc. now owns 9,164,396 shares of the real estate investment trust’s stock worth $287,672,000 after purchasing an additional 1,193,005 shares during the period. FMR LLC grew its stake in shares of Rexford Industrial Realty by 37.4% during the 2nd quarter. FMR LLC now owns 7,561,704 shares of the real estate investment trust’s stock worth $237,361,000 after purchasing an additional 2,057,501 shares during the period. Principal Financial Group Inc. grew its stake in shares of Rexford Industrial Realty by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,570,817 shares of the real estate investment trust’s stock worth $102,804,000 after purchasing an additional 251,106 shares during the period. Long Pond Capital LP acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $78,039,000. Finally, Northern Trust Corp grew its stake in shares of Rexford Industrial Realty by 7.7% during the 2nd quarter. Northern Trust Corp now owns 1,473,376 shares of the real estate investment trust’s stock worth $46,249,000 after purchasing an additional 105,945 shares during the period. Institutional investors own 99.34% of the company’s stock.

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 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.

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