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

Several other equities analysts have also recently commented on REXR. National Securities reissued a “hold” rating and set a $22.00 target price (up previously from $20.00) on shares of Rexford Industrial Realty in a research report on Thursday, August 4th. Jefferies Group reissued a “buy” rating on shares of Rexford Industrial Realty in a research report on Thursday, August 18th. Finally, DA Davidson lifted their target price on shares of Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.00.

Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 22.19 on Wednesday. The company has a market capitalization of $1.46 billion and a PE ratio of 78.97. Rexford Industrial Realty has a 52 week low of $15.14 and a 52 week high of $23.38. The company has a 50 day moving average price of $21.41 and a 200 day moving average price of $21.44.

Rexford Industrial Realty (NASDAQ:REXR) last posted its earnings results on Wednesday, November 2nd. The company reported $0.22 EPS for the quarter, topping 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. During the same period in the prior year, the business earned $0.20 EPS. Rexford Industrial Realty’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities research analysts expect that Rexford Industrial Realty will post $0.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.54 annualized dividend and a dividend yield of 2.43%.

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

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

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