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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned an average recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $52.09.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $66.00 to $49.00 in a research note on Monday. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday. Scotiabank upped their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a report on Friday, October 18th.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $45.09 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.73 and a current ratio of 1.20. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The company’s 50 day simple moving average is $49.61 and its 200-day simple moving average is $47.25. 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 posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities research analysts expect that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Buying and Selling

In other news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares during the last quarter. Capital International Investors raised its stake in shares of Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 1.1% during the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after purchasing an additional 42,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Rexford Industrial Realty by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after purchasing an additional 200,027 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.