Rexford Industrial Realty, Inc. (REXR) Upgraded at BidaskClub

Rexford Industrial Realty, Inc. (NYSE:REXR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, November 4th.

A number of other research analysts have also commented on REXR. FBR & Co started coverage on Rexford Industrial Realty in a report on Tuesday, July 11th. They set a “mkt perform” rating and a $26.00 price objective on the stock. DA Davidson reissued a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Rexford Industrial Realty in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $30.60.

Shares of Rexford Industrial Realty (NYSE REXR) traded up $0.04 during midday trading on Friday, hitting $30.99. The stock had a trading volume of 377,300 shares, compared to its average volume of 468,687. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $2,410.97, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. Rexford Industrial Realty has a fifty-two week low of $21.34 and a fifty-two week high of $31.11.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $43.30 million for the quarter, compared to analyst estimates of $41.77 million. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. analysts predict that Rexford Industrial Realty will post 0.96 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in REXR. BlackRock Inc. grew its holdings in Rexford Industrial Realty by 1,607.5% in the 1st quarter. BlackRock Inc. now owns 5,832,562 shares of the real estate investment trust’s stock valued at $131,347,000 after buying an additional 5,490,976 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Rexford Industrial Realty by 93.4% during the 3rd quarter. Principal Financial Group Inc. now owns 3,235,956 shares of the real estate investment trust’s stock worth $92,613,000 after purchasing an additional 1,562,996 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 16.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,200,033 shares of the real estate investment trust’s stock worth $252,449,000 after purchasing an additional 1,282,548 shares in the last quarter. 1060 Capital LLC acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $15,172,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $15,020,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

Analyst Recommendations for Rexford Industrial Realty (NYSE:REXR)

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