Rexford Industrial Realty (NYSE:REXR) Downgraded by 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 Saturday, Zacks.com reports.

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, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Wednesday, July 1st. Five equities research analysts have rated the stock with a hold rating, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $45.00.

Shares of REXR stock opened at $45.55 on Friday. The company’s fifty day simple moving average is $47.13 and its 200-day simple moving average is $42.45. Rexford Industrial Realty has a 52 week low of $31.79 and a 52 week high of $53.48. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.32. The company has a market cap of $5.64 billion, a PE ratio of 99.02, a P/E/G ratio of 8.57 and a beta of 0.61.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.22). Rexford Industrial Realty had a net margin of 21.93% and a return on equity of 2.64%. The business had revenue of $79.95 million during the quarter, compared to analysts’ expectations of $78.22 million. Equities research analysts expect that Rexford Industrial Realty will post 1.28 EPS for the current fiscal year.

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 66,614 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $47.06, for a total transaction of $3,134,854.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its holdings in shares of Rexford Industrial Realty by 2.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 9,839 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 271 shares during the period. Assetmark Inc. lifted its position in Rexford Industrial Realty by 3.7% in the 2nd quarter. Assetmark Inc. now owns 8,148 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 287 shares during the last quarter. Fifth Third Bancorp lifted its position in Rexford Industrial Realty by 19.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,092 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 345 shares during the last quarter. Ovata Capital Management Ltd bought a new stake in Rexford Industrial Realty in the 2nd quarter valued at about $25,000. Finally, Van ECK Associates Corp lifted its position in Rexford Industrial Realty by 114.2% in the 1st quarter. Van ECK Associates Corp now owns 1,390 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 741 shares during the last quarter. 98.73% of the stock is owned by 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.

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