Rexford Industrial Realty (REXR) Rating Lowered to Underweight at J P Morgan Chase & Co

Rexford Industrial Realty (NYSE:REXR) was downgraded by J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday. They presently have a $29.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s target price suggests a potential downside of 5.17% from the company’s previous close.

REXR has been the subject of a number of other reports. Jefferies Group reaffirmed a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of Rexford Industrial Realty in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, August 31st. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. National Securities raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and upped their target price for the stock from $23.00 to $32.00 in a research note on Tuesday, August 29th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Rexford Industrial Realty in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.78.

Shares of Rexford Industrial Realty (NYSE REXR) opened at $30.58 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72. Rexford Industrial Realty has a 1 year low of $21.34 and a 1 year high of $31.71. The company has a market cap of $2,392.27, a price-to-earnings ratio of 32.67, a P/E/G ratio of 4.17 and a beta of 0.77.

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

Several institutional investors have recently bought and sold shares of REXR. Principal Financial Group Inc. boosted its stake 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 buying an additional 1,562,996 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 1,282,548 shares during the last quarter. 1060 Capital LLC acquired a new position in shares of Rexford Industrial Realty during the 3rd quarter worth about $15,172,000. Eagle Asset Management Inc. acquired a new position in shares of Rexford Industrial Realty during the 3rd quarter worth about $15,020,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Rexford Industrial Realty by 191.9% during the 2nd quarter. Renaissance Technologies LLC now owns 673,300 shares of the real estate investment trust’s stock worth $18,475,000 after buying an additional 442,600 shares during the last quarter.

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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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