Rexford Industrial Realty (NYSE:REXR) Cut to Sell at Wall Street Zen

Key Points

• Rexford Industrial Realty has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• Barclays and Evercore ISI have raised their target prices for REXR shares, now set at $39.00 and $40.00, respectively, while the overall average price target is $42.00.
• The company reported a quarterly earnings per share of $0.60, exceeding consensus estimates, but revenue fell short of projections at $246.76 million.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other research analysts have also weighed in on REXR. Barclays increased their target price on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a research note on Monday, September 15th. Evercore ISI raised their price objective on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Rexford Industrial Realty in a research note on Wednesday, October 8th. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, September 4th. Finally, Industrial Alliance Securities set a $40.00 price objective on shares of Rexford Industrial Realty in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.00.

Rexford Industrial Realty Trading Up 1.4%

Shares of REXR stock opened at $43.72 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 5.59. The firm has a market cap of $10.35 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 4.77 and a beta of 1.13. The company has a 50-day moving average of $41.13 and a two-hundred day moving average of $37.38. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $46.22.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. The company had revenue of $246.76 million during the quarter, compared to analyst estimates of $253.46 million. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. Rexford Industrial Realty's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. On average, analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently added to or reduced their stakes in REXR. Massachusetts Financial Services Co. MA lifted its position in shares of Rexford Industrial Realty by 130.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after buying an additional 4,384,624 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Rexford Industrial Realty during the 1st quarter worth approximately $146,155,000. Soroban Capital Partners LP lifted its position in shares of Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock worth $326,925,000 after buying an additional 3,344,677 shares during the last quarter. Norges Bank purchased a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $104,116,000. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Rexford Industrial Realty during the second quarter worth about $91,671,000. Institutional investors and hedge funds own 99.52% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.