Rexford Industrial Realty (NYSE: REXR) reduces its holdings at Zacks Investment Research
Rexford Industrial Realty (NYSE: REXR) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research report released Thursday to clients and investors, Zacks.com reports.
According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in the Southern California infill markets. Rexford Industrial Realty, Inc. is headquartered in Los Angeles, California.
REXR has been the subject of several other research reports. Wells Fargo & Company raised its price target on Rexford Industrial Realty from $ 58.00 to $ 65.00 and gave the stock an “equal weight” rating in a report released on Tuesday, August 10. Capital One Financial upgraded Rexford Industrial Realty from “equal weight” to “overweight” and set a target price of $ 66.00 on the share in a report released on Monday, July 19. Two investment analysts gave the stock a conservation rating and two gave the stock a buy rating. Based on MarketBeat data, Rexford Industrial Realty has a consensus rating of “Buy” and an average price target of $ 63.00.
Shares of Rexford Industrial Realty opened at $ 60.16 on Thursday. Rexford Industrial Realty has a one year minimum of $ 43.61 and a one year maximum of $ 63.55. The company has a debt ratio of 0.34, a current ratio of 1.46, and a quick ratio of 1.46. The stock’s 50-day moving average is $ 61.11 and its 200-day moving average is $ 56.96. The company has a market cap of $ 8.29 billion, a price / earnings ratio of 92.56, a PEG ratio of 3.76 and a beta of 0.60.
Rexford Industrial Realty (NYSE: REXR) last reported its results on Tuesday, July 20. The REIT reported EPS of $ 0.15 for the quarter, beating the consensus estimate of $ 0.09 by $ 0.06. The company posted revenue of $ 104.24 million for the quarter, compared to analysts’ estimates of $ 103.03 million. Rexford Industrial Realty had a return on equity of 3.06% and a net margin of 26.46%. The company’s revenue for the quarter increased 30.7% from the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $ 0.32. On average, sell-side analysts expect Rexford Industrial Realty to post EPS of 1.55 for the current fiscal year.
In addition, General Counsel David E. Lanzer sold 14,000 shares of the company in a transaction that took place on Thursday 5 August. The stock was sold for an average price of $ 62.11, for a total value of $ 869,540.00. The transaction was disclosed in a document filed with the SEC, accessible through this link. 1.50% of the shares are held by insiders of the company.
Several institutional investors and hedge funds have recently changed their holdings in equities. Vanguard Group Inc. increased its position in the shares of Rexford Industrial Realty by 7.4% during the second quarter. Vanguard Group Inc. now owns 19,885,279 Real Estate Investment Trust shares valued at $ 1,132,467,000 after acquiring an additional 1,370,118 shares in the last quarter. BlackRock Inc. increased its position in the shares of Rexford Industrial Realty by 1.7% during the second quarter. BlackRock Inc. now owns 18,148,451 Real Estate Investment Trust shares valued at $ 1,033,556,000 after acquiring an additional 308,761 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Rexford Industrial Realty by 10.5% during the second quarter. Principal Financial Group Inc. now owns 8,970,413 real estate investment trust shares valued at $ 510,864,000 after acquiring an additional 853,068 shares during the last quarter. State Street Corp increased its position in shares of Rexford Industrial Realty by 7.3% in the second quarter. State Street Corp now owns 6,022,863 real estate investment trust shares valued at $ 344,439,000 after acquiring an additional 410,140 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Rexford Industrial Realty by 0.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,103,527 Real Estate Investment Trust shares valued at $ 233,696,000 after purchasing an additional 23,851 shares during the last quarter.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-directed and self-directed real estate investment trust, which engages in the ownership, operation and acquisition of industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, California.
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