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

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. “

Other equities research analysts have also issued reports about the stock. DA Davidson reaffirmed a “buy” rating and set a $33.00 price objective (up from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, July 13th. FBR & Co assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, July 11th. They set a “mkt perform” rating and a $26.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rexford Industrial Realty in a report on Friday, July 14th. Finally, BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.86.

Rexford Industrial Realty (NASDAQ:REXR) opened at 30.24 on Wednesday. Rexford Industrial Realty has a 1-year low of $20.05 and a 1-year high of $30.60. The stock has a market cap of $2.14 billion and a PE ratio of 64.75. The firm has a 50-day moving average of $28.94 and a 200-day moving average of $26.27.

Rexford Industrial Realty (NASDAQ:REXR) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The business had revenue of $36.78 million during the quarter, compared to analyst estimates of $36.75 million. During the same period last year, the firm posted $0.22 EPS. The company’s revenue was up 20.2% on a year-over-year basis. Analysts expect that Rexford Industrial Realty will post $0.36 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of REXR. Victory Capital Management Inc. boosted its stake in Rexford Industrial Realty by 1.9% during the second quarter. Victory Capital Management Inc. now owns 3,743 shares of the company’s stock worth $103,000 after buying an additional 71 shares during the period. Advisor Group Inc. boosted its stake in Rexford Industrial Realty by 13.6% during the second quarter. Advisor Group Inc. now owns 3,787 shares of the company’s stock worth $103,000 after buying an additional 453 shares during the period. SG Americas Securities LLC purchased a new position in Rexford Industrial Realty during the first quarter worth $114,000. Daiwa Securities Group Inc. boosted its stake in Rexford Industrial Realty by 51.4% during the first quarter. Daiwa Securities Group Inc. now owns 5,300 shares of the company’s stock worth $119,000 after buying an additional 1,800 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in Rexford Industrial Realty during the first quarter worth $128,000.

About Rexford Industrial Realty

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 (NASDAQ:REXR)

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