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REXR

Rexford Industrial

$32.00

0.225 (0.71%)

07:07
01/22/19
01/22
07:07
01/22/19
07:07

Rexford Industrial acquires two industrial properties for $27.6M

Rexford Industrial Realty announced the acquisition of two industrial properties totaling $27.6M. The acquisitions were funded using cash on hand. The Company acquired 12821 Knott St., located in Garden Grove within the Orange County - West submarket, for $19.8M, or $164 per square foot, from an affiliate of Brixton Capital. The high-visibility, freeway frontage property consists of a vacant, 24' clearance, 120,800 square foot single-tenant industrial building on 6.97 acres of land. The Company intends to modernize and reposition the existing building and add 40,000 square feet of new 30' clear warehouse space. According to CBRE, the vacancy rate in the 41.6M square foot Orange County - West submarket was 1.4% at the end of the Q3 of FY18. The Company also acquired 28510 Industry Drive, located in Valencia within the LA - San Fernando Valley submarket, for $7.8M, or $166 per square foot, in a sale-leaseback transaction. The property consists of a newly built 46,778 square foot single-tenant industrial building on 2.15 acres of land, and features 28' clearance, ESFR fire sprinklers and high-image office space. According to CBRE, the vacancy rate in the 174M square foot LA - San Fernando Valley submarket was 1.4% at the end of the Q3 of FY18.

REXR Rexford Industrial
$32.00

0.225 (0.71%)

12/19/18
JPMS
12/19/18
UPGRADE
Target $33
JPMS
Neutral
Rexford Industrial upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Anthony Paolone upgraded Rexford Industrial Realty to Neutral with an unchanged price target of $33. The analyst made 20 ratings changes in conjunction with his 2019 REIT outlook. He's bullish on residential and industrial REITs, sees a relatively improved outlook for health care and net lease, and is more bearish on malls and office REITs.
08/01/18
SOCO
08/01/18
UPGRADE
SOCO
Overweight
Rexford Industrial upgraded to Overweight from Equalweight at Capital One
06/29/18
06/29/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Rexford Industrial (REXR) downgraded to Neutral from Buy at DA Davidson with analyst Barry Oxford saying over the last 18 month the stock has risen nearly 35%, the most in the industrial group. 2. C&J Energy Services (CJ) downgraded to Market Perform from Outperform at Wells Fargo with analyst Judson Bailey saying Downside risk for completion activity over the next few quarters and negative pricing and demand data points already rolling in for pressure pumping create risk to consensus estimates. 3. Tenet (THC) downgraded to Hold from Buy at Jefferies with analyst Brian Tanquilut saying the stock is fairly valued after rallying 128% year-to-date. 4. Accenture (ACN) downgraded to Neutral from Buy at BofA/Merrill with analyst Jason Kupferberg citing valuation following share outperformance over the past 12 months. 5. Diageo (DEO) downgraded to Market Perform from Outperform at Bernstein with analyst Trevor Stirling saying that while its share price has had a "great" 12 months and he has seen sustained improvements in the same period, "this is almost as good as it gets." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/18
DADA
06/29/18
DOWNGRADE
Target $35
DADA
Neutral
Rexford Industrial downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Barry Oxford downgraded Rexford Industrial Realty (REXR) to Neutral and lowered his price target for the shares to $35 from $40. Over the last 18 month the stock has risen nearly 35%, the most in the industrial group, Oxford tells investors in a research note. He says his downgrade is based on "purely valuation" and that Rexford is still a "great company." Oxford this morning also upgraded Piedmont Office Realty Trust (PDM) to Buy from Neutral.

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