Rexford Industrial Realty (NYSE:REXR) downgraded to “Sell” by StockNews.com

Rexford Industrial Realty (NYSE:REXR – Get Valuation) was downgraded to a “sell” rating from a “hold” rating by research analysts at StockNews.com in a report published on Tuesday.

Several other equity analysts have also published reports on the company. Robert W. Baird increased his price target on Rexford Industrial Realty from $86.00 to $103.00 in a research note on Thursday, April 21. Wolfe Research assumed coverage of Rexford Industrial Realty in a research note on Tuesday. They issued a “market perform” rating and a price target of $63.00 on the stock. Finally, Wells Fargo & Company lowered its price target on Rexford Industrial Realty to $74.00 from $90.00 and rated the stock an “Overweight” in a research note on Monday, June 6. One equities research analyst has rated the stock with a sell rating, one with a hold rating and four with a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $78.00.

Shares of REXR stock rose $0.03 on Tuesday afternoon to hit $57.09. 1,625,955 shares of hands traded compared to its average volume of 1,295,157. The stock’s 50-day simple moving average is $68.71 and its 200-day simple moving average is $71.88. Rexford Industrial Realty has a 1 year low of $55.84 and a 1 year high of $84.68. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 64.88, a price-to-earnings-to-growth ratio of 2.90 and a beta of 0.70. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt to equity ratio of 0.29.

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Rexford Industrial Realty (NYSE:REXR – Get Rating) last issued its quarterly earnings data on Tuesday, April 19th. Real Estate Investment Trust reported $0.27 per share for the quarter, beating analysts’ consensus estimate of $0.20 by $0.07. The company had revenue of $140.80 million for the quarter, compared to analyst estimates of $141.60 million. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. The company’s quarterly revenue rose 41.1% year over year. In the same period last year, the company posted earnings per share of $0.37. On average, equity analysts expect Rexford Industrial Realty to report earnings per share of 1.93 for the current fiscal year.

In other news from Rexford Industrial Realty, CEO Howard Schwimmer sold 16,500 shares of the company’s stock in a transaction on Wednesday, June 15. The stock sold at an average price of $59.90 for a total value of $988,350.00. Upon completion of the transaction, the Chief Executive Officer now owns 84,472 shares of the Company, valued at approximately $5,059,872.80. The sale was announced in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 1.50% of the shares are owned by company insiders.

Several hedge funds and other institutional investors have recently changed their holdings of REXR. First Trust Advisors LP increased its position in Rexford Industrial Realty shares by 419.1% during the first quarter. First Trust Advisors LP now owns 90,000 shares of the Real Estate Investment Trust valued at $3,223,000 after purchasing an additional 72,663 shares last quarter. Citadel Advisors LLC increased its stake in Rexford Industrial Realty by 64.5% during the second quarter. Citadel Advisors LLC now owns 10,866 shares of the Real Estate Investment Trust worth $619,000 after purchasing an additional 4,261 shares last quarter. HighTower Advisors LLC acquired a new interest in Rexford Industrial Realty during the third quarter for approximately $642,000. Voya Investment Management LLC increased its stake in Rexford Industrial Realty by 2.6% in the third quarter. Voya Investment Management LLC now owns 22,304 shares of the Real Estate Investment Trust worth $1,266,000 after purchasing an additional 574 shares last quarter. Finally, Morgan Stanley increased its stake in Rexford Industrial Realty by 88.0% during the third quarter. Morgan Stanley now owns 423,692 shares of the Real Estate Investment Trust worth $24,046,000 after purchasing an additional 198,335 shares last quarter. 98.53% of the shares are currently owned by hedge funds and other institutional investors.

Company profile of Rexford Industrial Realty (received rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties in Southern California’s infill markets, owns 232 properties with approximately 27.9 million leasable square feet and manages an additional 20 properties with approximately 1 leasable area, 0 million square feet.

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