Rexford Industrial Realty Inc (NASDAQ:REXR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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 brokerages also recently weighed in on REXR. National Securities reissued a “neutral” rating and set a $22.00 price target on shares of Rexford Industrial Realty in a research report on Friday, November 18th. DA Davidson reaffirmed a “buy” rating and issued a $27.00 target price on shares of Rexford Industrial Realty in a research report on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rexford Industrial Realty presently has a consensus rating of “Buy” and a consensus target price of $24.25.

Rexford Industrial Realty (NASDAQ:REXR) opened at 23.49 on Friday. The stock has a 50 day moving average of $22.99 and a 200 day moving average of $22.13. The company has a market cap of $1.54 billion and a PE ratio of 83.59. Rexford Industrial Realty has a 12-month low of $15.14 and a 12-month high of $24.39.

Rexford Industrial Realty (NASDAQ:REXR) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm had revenue of $32.94 million for the quarter, compared to the consensus estimate of $27.68 million. Rexford Industrial Realty’s revenue was up 41.2% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. Equities analysts expect that Rexford Industrial Realty will post $0.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, December 28th.

WARNING: This story was posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of United States & international trademark and copyright laws. The legal version of this story can be accessed at http://www.dailypolitical.com/2017/01/14/rexford-industrial-realty-inc-rexr-stock-rating-lowered-by-zacks-investment-research.html.

In related news, CFO Adeel Khan bought 5,360 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $24.65 per share, with a total value of $132,124.00. Following the transaction, the chief financial officer now owns 100 shares in the company, valued at approximately $2,465. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of large investors have recently bought and sold shares of REXR. Covington Capital Management bought a new stake in Rexford Industrial Realty during the third quarter worth approximately $597,000. Credit Suisse AG boosted its position in shares of Rexford Industrial Realty by 3.6% in the third quarter. Credit Suisse AG now owns 262,210 shares of the company’s stock valued at $6,002,000 after buying an additional 9,132 shares in the last quarter. Phocas Financial Corp. boosted its position in shares of Rexford Industrial Realty by 8.0% in the third quarter. Phocas Financial Corp. now owns 530,901 shares of the company’s stock valued at $12,152,000 after buying an additional 39,197 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Rexford Industrial Realty by 5,446.6% in the third quarter. Bamco Inc. NY now owns 277,330 shares of the company’s stock valued at $6,348,000 after buying an additional 272,330 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Rexford Industrial Realty during the third quarter valued at $447,000.

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. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.

5 Day Chart for NASDAQ:REXR

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