Rexford Industrial Realty (NYSE:REXR) was downgraded by equities research analysts at TheStreet from a "b" rating to a "c+" rating in a research report issued on Thursday, TheStreetRatingsTable reports.
A number of other equities research analysts have also recently issued reports on REXR. Berenberg Bank initiated coverage on shares of Rexford Industrial Realty in a research note on Wednesday, October 28th. They issued a "buy" rating and a $56.00 price objective for the company. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a "buy" rating to a "hold" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of "Hold" and an average target price of $48.50.
Shares of REXR stock opened at $47.72 on Thursday. The business has a 50-day moving average price of $49.26 and a two-hundred day moving average price of $48.24. Rexford Industrial Realty has a 12-month low of $31.79 and a 12-month high of $53.00. The company has a quick ratio of 6.46, a current ratio of 6.45 and a debt-to-equity ratio of 0.32. The firm has a market cap of $6.27 billion, a P/E ratio of 82.28, a price-to-earnings-growth ratio of 5.10 and a beta of 0.59.
Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, February 10th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.33 by ($0.23). The firm had revenue of $88.65 million during the quarter, compared to the consensus estimate of $88.19 million. Rexford Industrial Realty had a return on equity of 3.14% and a net margin of 26.29%. The business's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, research analysts expect that Rexford Industrial Realty will post 1.31 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in Rexford Industrial Realty by 419.1% in the 1st quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust's stock worth $3,223,000 after acquiring an additional 72,663 shares during the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Rexford Industrial Realty in the third quarter worth about $261,000. NEXT Financial Group Inc bought a new stake in shares of Rexford Industrial Realty in the third quarter worth about $69,000. Xponance Inc. purchased a new position in Rexford Industrial Realty during the 3rd quarter valued at about $596,000. Finally, State of Michigan Retirement System bought a new position in Rexford Industrial Realty during the 3rd quarter valued at approximately $2,064,000. 98.73% of the stock is currently owned by institutional investors.
About Rexford Industrial Realty
Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
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