Rexford Industrial Realty (NYSE:REXR) Cut to “Sell” at StockNews.com

Rexford Industrial Realty (NYSE:REXR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other research analysts also recently commented on the company. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday. Scotiabank raised their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $49.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.09.

Rexford Industrial Realty Stock Performance

Shares of REXR stock traded down $1.32 on Monday, hitting $44.71. 2,989,012 shares of the stock were exchanged, compared to its average volume of 1,710,997. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $9.74 billion, a PE ratio of 41.02, a P/E/G ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The firm’s 50 day moving average is $49.81 and its two-hundred day moving average is $47.30.

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

Insider Activity at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Large investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its stake in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 349 shares during the period. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $26,000. UMB Bank n.a. increased its stake in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares during the period. 99.52% of the stock is owned by hedge funds and other 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.