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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $51.09.

Several research analysts have recently issued reports on the company. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company cut their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Finally, Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $42.01 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 1-year low of $41.16 and a 1-year high of $58.02. The stock has a market capitalization of $9.34 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.01 and a beta of 0.94. The business has a 50-day moving average price of $46.92 and a two-hundred day moving average price of $47.05.

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

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.98%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in 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 valued at $1,495,668,000 after purchasing an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Rexford Industrial Realty by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after buying an additional 4,197,907 shares in the last quarter. Capital International Investors grew its stake in shares of Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after buying an additional 17,103,653 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rexford Industrial Realty by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after buying an additional 74,865 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Rexford Industrial Realty by 14.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after acquiring an additional 431,659 shares in 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.