Rexford Industrial Realty (REXR) Receives a Buy from Scotiabank

In a report released today, Greg McGinniss from Scotiabank maintained a Buy rating on Rexford Industrial Realty (REXR – Research Report), with a price target of $55.00. The company’s shares closed yesterday at $48.84.

According to TipRanks, McGinniss is a 2-star analyst with an average return of 0.8% and a 52.63% success rate. McGinniss covers the Real Estate sector, focusing on stocks such as Federal Realty, Realty Income, and Simon Property.

In addition to Scotiabank, Rexford Industrial Realty also received a Buy from Colliers Securities’s Barry Oxford in a report issued yesterday. However, on March 26, Barclays initiated coverage with a Sell rating on Rexford Industrial Realty (NYSE: REXR).

Based on Rexford Industrial Realty’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $210.43 million and a net profit of $64.35 million. In comparison, last year the company earned a revenue of $178.59 million and had a net profit of $43.28 million

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of REXR in relation to earlier this year.

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Rexford Industrial Realty (REXR) Company Description:

Rexford Industrial Realty, Inc. is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.