Rexford Industrial Realty (NYSE:REXR) Downgraded by Bank of America to “Neutral”

Rexford Industrial Realty (NYSE:REXR) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Briefing.com reports. They currently have a $49.00 price target on the real estate investment trust’s stock, down from their prior price target of $66.00. Bank of America‘s price target suggests a potential upside of 6.45% from the company’s current price.

REXR has been the topic of a number of other reports. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Truist Financial lifted their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.09.

Rexford Industrial Realty Stock Up 2.4 %

Shares of NYSE REXR opened at $46.03 on Monday. The stock has a fifty day moving average price of $49.90 and a 200 day moving average price of $47.32. The company has a market cap of $10.03 billion, a P/E ratio of 42.23, a P/E/G ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. Rexford Industrial Realty’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Research analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its holdings in shares of Rexford Industrial Realty by 2.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 210 shares during the period. Fulton Bank N.A. raised its holdings in shares of Rexford Industrial Realty by 4.7% during the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 224 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Rexford Industrial Realty by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after buying an additional 337 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Rexford Industrial Realty by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after acquiring an additional 345 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.