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REXR

Rexford Industrial

$35.78

-0.325 (-0.90%)

07:09
04/18/19
04/18
07:09
04/18/19
07:09

Rexford Industrial acquires four industrial properties for $84.5M

Rexford Industrial acquired four industrial properties for a total of $84.5M. The acquisitions were funded using cash on hand. The company acquired a 456,000 square foot portfolio comprising three industrial buildings located in supply-constrained infill submarkets. The first property is in the City of Industry within the LA - San Gabriel Valley submarket, acquired for $41.8M, or $163 per square foot. The second building is within the North Orange County submarket, acquired for $18M , or $194 per square foot. The third proerty was acquired for $16.8M, or $158 per square foot, and consists of a multi-tenant industrial building containing 106,311 square feet on 6.34 acres and is currently 70% occupied. In a separate off-market transaction, the company acquired 980 Rancheros Drive, located in San Marcos within the North San Diego submarket, for $7.9M, or $173 per square foot.

  • 01

    May

  • 04

    Jun

REXR Rexford Industrial
$35.78

-0.325 (-0.90%)

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.
08/01/18
SOCO
08/01/18
UPGRADE
SOCO
Overweight
Rexford Industrial upgraded to Overweight from Equalweight at Capital One
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.
03/14/19
WELS
03/14/19
NO CHANGE
Target $37
WELS
Market Perform
Rexford Industrial price target raised to $37 from $32 at Wells Fargo
Wells Fargo analyst Blaine Heck raised his price target for Rexford Industrial to $37 from $32 after the company reported a "solid" Q4, with a quarter over quarter occupancy increase and strong rent spreads and ssNOI growth. The analyst continues to be positive on Rexford Industrial's exposure to the Southern California industrial markets, which are some of the strongest in the country, but believes valuation leaves little to no room for error. He reiterates a Market Perform rating on the shares.

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