Wall Street Zen Upgrades Rexford Industrial Realty (NYSE:REXR) to "Hold"

Key Points

• Wall Street Zen upgraded Rexford Industrial Realty from “sell” to “hold.” Overall analyst sentiment is also “Hold,” with seven Buy, five Hold and three Sell ratings and an average price target of $40.87.
• REXR opened at $38.16, down 0.5%, while its 52-week range is $32.14 to $42.41. The company reported quarterly revenue of $239.1 million, above estimates, but EPS of $0.07 missed the $0.60 consensus estimate.
• Institutional ownership stands at 99.52%, led by major positions or purchases from BlackRock, Legal & General, Bank of America, UBS Asset Management and Bank of New York Mellon.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Rexford Industrial Realty from a "buy" rating to a "hold" rating and set a $40.00 price target on the stock. in a report on Thursday, August 6th. Truist Financial raised their target price on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, October 12th. BNP Paribas Exane lifted their price target on shares of Rexford Industrial Realty from $38.00 to $41.00 and gave the company a "hold" rating in a report on Monday, October 26th. BMO Capital Markets raised their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. Finally, Cantor Fitzgerald dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, October 26th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average target price of $40.87.

Rexford Industrial Realty Stock Down 0.5%

REXR stock opened at $38.16 on Friday. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 15.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.70 and a current ratio of 4.08. The business's 50-day moving average is $37.41 and its two-hundred day moving average is $36.46. Rexford Industrial Realty has a fifty-two week low of $32.14 and a fifty-two week high of $42.41.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.53). Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. During the same period in the previous year, the firm earned $0.60 EPS. The company's revenue was down 5.6% on a year-over-year basis. As a group, analysts forecast that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Institutional Trading of Rexford Industrial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of REXR. BlackRock Inc. bought a new position in Rexford Industrial Realty in the 2nd quarter valued at about $1,293,168,000. Legal & General Group Plc acquired a new position in shares of Rexford Industrial Realty in the second quarter valued at approximately $86,861,000. Bank of America Corp DE bought a new position in shares of Rexford Industrial Realty during the second quarter worth approximately $79,547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rexford Industrial Realty by 41,558.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust's stock worth $55,431,000 after purchasing an additional 1,650,693 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $55,056,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc NYSE: REXR is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region's established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.

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