Rexford Industrial Realty, Inc. (NYSE:REXR) Receives Average Rating of “Hold” from Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $53.36.

Several brokerages recently weighed in on REXR. Robert W. Baird dropped their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Barclays increased their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Wednesday, February 7th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st.

Rexford Industrial Realty Stock Down 0.2 %

NYSE REXR opened at $44.31 on Thursday. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $9.65 billion, a P/E ratio of 40.65, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. The stock’s 50-day moving average price is $48.24 and its 200-day moving average price is $50.25.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.76%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Rexford Industrial Realty by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 31,482 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 895 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Rexford Industrial Realty by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 184,444 shares of the real estate investment trust’s stock valued at $9,278,000 after buying an additional 2,089 shares during the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Rexford Industrial Realty in the first quarter worth approximately $2,867,000. FORA Capital LLC bought a new stake in shares of Rexford Industrial Realty during the 1st quarter worth approximately $3,239,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Rexford Industrial Realty by 894.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock valued at $39,926,000 after acquiring an additional 713,907 shares during the period. Institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.