Rexford Industrial Realty (NYSE:REXR) Stock Rating Lowered by Bank of America

Rexford Industrial Realty (NYSE:REXR) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. They currently have a $49.00 price target on the real estate investment trust’s stock, down from their previous price target of $66.00. Bank of America‘s price target points to a potential upside of 9.74% from the company’s previous close.

Several other research firms have also issued reports on REXR. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Mizuho lowered their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday. StockNews.com raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $52.09.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $44.65 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $9.80 billion, a P/E ratio of 36.30, a P/E/G ratio of 1.89 and a beta of 0.93. The business has a fifty day simple moving average of $49.70 and a two-hundred day simple moving average of $47.27. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS 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 analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, equities analysts forecast that Rexford Industrial Realty will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring 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. lifted its holdings 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 in the last quarter. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. 99.52% of the stock is currently owned by institutional investors.

About Rexford Industrial Realty

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.