Rexford Industrial Realty (NYSE:REXR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a research note published on Monday morning.

Other equities research analysts have also recently issued research reports about the company. Truist Financial decreased their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Weiss Ratings upgraded Rexford Industrial Realty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. Evercore upgraded Rexford Industrial Realty from an “in-line” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Monday, April 13th. Barclays reduced their target price on Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, July 16th. Finally, Scotiabank upgraded Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $38.00 to $36.00 in a report on Thursday, June 18th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.38.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $36.75 on Monday. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $44.38. The company’s 50 day simple moving average is $34.83 and its 200 day simple moving average is $36.14. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 1.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 1.50.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. The firm had revenue of $242.14 million during the quarter, compared to analysts’ expectations of $243.78 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. Rexford Industrial Realty’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. On average, sell-side analysts predict that Rexford Industrial Realty will post 2.4 EPS for the current year.

Insider Activity

In other news, General Counsel David E. Lanzer sold 33,299 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares of the company’s stock, valued at $1,181,115.53. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Rexford Industrial Realty during the fourth quarter worth about $31,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Rexford Industrial Realty in the 1st quarter worth about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $34,000. Wiser Advisor Group LLC acquired a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at about $34,000. Finally, Allworth Financial LP grew its holdings in shares of Rexford Industrial Realty by 140.3% during the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 574 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.