Rexford Industrial Realty (NYSE:REXR) Receives a Downgrade
In analysts report issued to investors and clients on Tuesday morning, Wells Fargo lowered shares of Rexford Industrial Realty (NYSE:REXR) to a lower “Market Perform” rating from the previous “Outperform” rating.
From a total of 7 analysts covering Rexford Industrial (NYSE:REXR) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $18 while the lowest target price is $15. The mean of all analyst targets is $17 with a 2.08% above today’s ($15.84) stock price. Rexford Industrial was the topic of 4 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Capital One initiated shares on November 2 with “Overweight” rating.
Approximately 633,735 shares of stock traded hands or 4.32% up from the average. Rexford Industrial Realty Inc (NYSE:REXR) has risen 8.56% since May 12, 2015 and is uptrending. It has outperformed by 12.24% the S&P500.
The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.17, from 1.13 in 2015Q2. The ratio is negative, as 18 institutions have sold all the shares of Rexford Industrial Realty Inc that they owned while 36 funds have taken shares off the table. 12 funds have purchased shares for the first time while 40 added to their positions. These institutions now hold 49.28 million shares or 3.36% less than the 50.99 million shares they owned in 2015Q2.
The Fund First Foundation Advisors currently is holding shares equating to 5.05% of its total portfolio in Rexford Industrial Realty Inc representing a total of 4.46 million shares. Another fund,Real Estate Management Services Llc, is holding a total of 1.47 million shares equating to 3.14% of their holdings. Additionally, Security Capital Research & Management Inc has a 5.27 million share stake in Rexford Industrial Realty Inc which represents 2.38% of their total portfolio. The Fund, Aew Capital Management L P, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 1.15% of their total portfolio. Finally Schneider Capital Management Corp, a fund which is based in the state of Pennsylvania reported a total holdings of 318,787 shares.
Insider activity is a very important aspect to track on any stock. Going back to September 4, 2015, shareholders of Rexford Industrial Realty Inc have witnessed 3 insider buys, and a total of 0 insider sales equating to a net activity of approximately $263,709 . Ziman Richard S bought 10,000 shares worth approximately $127,561. Frankel Michael S. bought 10,000 shares worth approximately $128,550.
Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust focused on owning, operating and acquiring industrial properties in Southern California infill markets. The company has a market cap of $881.07 million. The Firm owns interests in approximately 120 properties with approximately 11.7 million rentable square feet. It has 1086.81 P/E ratio. The Firm also owns 601-605 S.
According to Zacks Investment Research, “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.”