Rexford Industrial Realty (NYSE:REXR) Rating Reiterated by Zacks Investment Research

Rexford Industrial Realty (NYSE:REXR)‘s stock had its “hold” rating reissued by Zacks Investment Research in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. Rexford Industrial Realty, Inc. is based in Los Angeles, California. “

Separately, Wells Fargo & Co boosted their price target on Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Shares of Rexford Industrial Realty stock traded up $0.20 on Friday, reaching $40.37. 2,711,998 shares of the stock were exchanged, compared to its average volume of 958,287. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.34 and a quick ratio of 8.34. Rexford Industrial Realty has a twelve month low of $28.17 and a twelve month high of $41.27. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. The company has a 50 day simple moving average of $38.88.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The company had revenue of $60.36 million during the quarter, compared to analyst estimates of $60.05 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 24.4% compared to the same quarter last year. On average, research analysts predict that Rexford Industrial Realty will post 1.2 earnings per share for the current fiscal year.

In other news, General Counsel David E. Lanzer sold 5,085 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the completion of the sale, the general counsel now directly owns 5,718 shares in the company, valued at $218,370.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adeel Khan sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total value of $1,520,000.00. Following the completion of the sale, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $1,520,000. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $60,000. Quadrant Capital Group LLC purchased a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $69,000. Nisa Investment Advisors LLC increased its position in shares of Rexford Industrial Realty by 289.0% in the first quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 4,335 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $211,000. Finally, Advisor Group Inc. increased its position in shares of Rexford Industrial Realty by 5.9% in the fourth quarter. Advisor Group Inc. now owns 7,168 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.21% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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