Rexford Industrial Realty, Inc. (NYSE:REXR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $53.36.

Several analysts have issued reports on REXR shares. Barclays upped their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Robert W. Baird cut their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Finally, Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Rexford Industrial Realty by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after buying an additional 1,235,894 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Rexford Industrial Realty by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock valued at $771,985,000 after acquiring an additional 181,552 shares during the period. Invesco Ltd. lifted its holdings in shares of Rexford Industrial Realty by 1.9% during the 3rd quarter. Invesco Ltd. now owns 6,484,017 shares of the real estate investment trust’s stock valued at $319,986,000 after acquiring an additional 120,596 shares in the last quarter. Centersquare Investment Management LLC boosted its position in Rexford Industrial Realty by 4.4% during the 4th quarter. Centersquare Investment Management LLC now owns 3,895,394 shares of the real estate investment trust’s stock worth $218,532,000 after purchasing an additional 164,590 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in Rexford Industrial Realty by 15.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,225,970 shares of the real estate investment trust’s stock valued at $180,977,000 after purchasing an additional 441,039 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $44.92 on Thursday. The business has a 50 day moving average price of $48.01 and a 200 day moving average price of $50.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The company has a market capitalization of $9.78 billion, a P/E ratio of 41.21, a PEG ratio of 1.94 and a beta of 0.89. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Sell-side analysts expect that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.71%. Rexford Industrial Realty’s payout ratio is 153.21%.

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.