Rexford Industrial Realty (NYSE:REXR) Upgraded at Zacks Investment Research

Rexford Industrial Realty (NYSE:REXRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm presently has a $83.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.97% from the stock’s previous close.

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. “

Several other analysts have also recently weighed in on REXR. Wells Fargo & Company boosted their price target on Rexford Industrial Realty from $81.00 to $90.00 in a report on Thursday, April 28th. Robert W. Baird boosted their price target on Rexford Industrial Realty from $86.00 to $103.00 in a report on Thursday, April 21st. Finally, StockNews.com started coverage on Rexford Industrial Realty in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $85.20.

Shares of NYSE REXR opened at $71.57 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.70 and a current ratio of 0.70. Rexford Industrial Realty has a 52 week low of $52.47 and a 52 week high of $84.68. The stock has a market capitalization of $11.81 billion, a P/E ratio of 81.33, a PEG ratio of 3.88 and a beta of 0.69. The stock’s fifty day moving average is $74.79 and its 200 day moving average is $73.13.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The company had revenue of $140.80 million for the quarter, compared to analyst estimates of $141.60 million. Rexford Industrial Realty had a net margin of 29.60% and a return on equity of 3.22%. The firm’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Equities research analysts forecast that Rexford Industrial Realty will post 1.93 earnings per share for the current year.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $70.04, for a total transaction of $827,452.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in Rexford Industrial Realty by 419.1% in the first quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock valued at $3,223,000 after acquiring an additional 72,663 shares during the last quarter. Citadel Advisors LLC lifted its stake in Rexford Industrial Realty by 64.5% in the second quarter. Citadel Advisors LLC now owns 10,866 shares of the real estate investment trust’s stock valued at $619,000 after purchasing an additional 4,261 shares during the last quarter. Raymond James & Associates bought a new position in Rexford Industrial Realty during the third quarter valued at $221,000. PNC Financial Services Group Inc. increased its position in Rexford Industrial Realty by 24.4% in the third quarter. PNC Financial Services Group Inc. now owns 11,501 shares of the real estate investment trust’s stock worth $653,000 after buying an additional 2,256 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of Rexford Industrial Realty by 42.2% in the third quarter. Advisor Group Holdings Inc. now owns 4,242 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 1,258 shares during the period. 98.53% of the stock is owned by institutional investors.

About Rexford Industrial Realty (Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

Read More

Get a free copy of the Zacks research report on Rexford Industrial Realty (REXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.