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

Rexford Industrial Realty, Inc. (NYSE:REXR) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $51.09.

A number of research analysts recently commented on the stock. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Wells Fargo & Company reduced their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th.

Rexford Industrial Realty Stock Down 0.3 %

Shares of NYSE REXR opened at $39.94 on Friday. Rexford Industrial Realty has a 1 year low of $39.85 and a 1 year high of $57.01. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day moving average of $43.29 and a two-hundred day moving average of $46.61.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. On average, analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.18%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Institutional Trading of Rexford Industrial Realty

Several hedge funds and other institutional investors have recently made changes to their positions in REXR. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty during the second quarter worth about $26,000. UMB Bank n.a. boosted its stake in shares of Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. CWM LLC increased its stake in Rexford Industrial Realty by 73.9% in the 2nd quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 631 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Rexford Industrial Realty by 42.4% during the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 518 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.