Rexford Industrial Realty (NYSE:REXR) Lowered to “Sell” at StockNews.com

Rexford Industrial Realty (NYSE:REXR – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, BMO Capital Markets initiated coverage on Rexford Industrial Realty in a research note on Monday, February 6th. They issued an “outperform” rating and a $77.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $69.33.

Rexford Industrial Realty Stock Up 1.5 %

Shares of NYSE:REXR opened at $54.55 on Friday. The company’s fifty day moving average is $55.92 and its two-hundred day moving average is $57.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.57 and a current ratio of 2.57. Rexford Industrial Realty has a 1-year low of $48.74 and a 1-year high of $68.68. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 57.42, a price-to-earnings-growth ratio of 2.30 and a beta of 0.84.

Insider Activity

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 35,505 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $55.94, for a total transaction of $1,986,149.70. Following the completion of the transaction, the chief executive officer now owns 50,862 shares in the company, valued at approximately $2,845,220.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel David E. Lanzer sold 16,778 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $58.16, for a total transaction of $975,808.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Howard Schwimmer sold 35,505 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $55.94, for a total value of $1,986,149.70. Following the transaction, the chief executive officer now directly owns 50,862 shares of the company’s stock, valued at $2,845,220.28. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently made changes to their positions in the business. Toroso Investments LLC boosted its stake in shares of Rexford Industrial Realty by 63.5% during the 1st quarter. Toroso Investments LLC now owns 41,265 shares of the real estate investment trust’s stock worth $2,461,000 after acquiring an additional 16,022 shares in the last quarter. Anson Funds Management LP boosted its position in shares of Rexford Industrial Realty by 76.9% in the 1st quarter. Anson Funds Management LP now owns 33,580 shares of the real estate investment trust’s stock valued at $2,003,000 after purchasing an additional 14,600 shares during the period. New York State Common Retirement Fund increased its stake in Rexford Industrial Realty by 7.3% in the 1st quarter. New York State Common Retirement Fund now owns 197,300 shares of the real estate investment trust’s stock worth $11,769,000 after purchasing an additional 13,400 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in Rexford Industrial Realty during the 1st quarter worth about $10,498,000. Finally, State Street Corp lifted its stake in Rexford Industrial Realty by 5.8% during the first quarter. State Street Corp now owns 10,520,590 shares of the real estate investment trust’s stock valued at $631,483,000 after buying an additional 579,957 shares in the last quarter. Institutional investors own 98.77% of the company’s stock.

Rexford Industrial Realty Company Profile

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Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust. It engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.