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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $51.09.

Several research firms have recently commented on REXR. Wells Fargo & Company reduced their price target 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 reduced their target price for the company from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the stock. Fulton Bank N.A. lifted its stake in shares of Rexford Industrial Realty by 4.7% in the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 224 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of Rexford Industrial Realty by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 296 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Rexford Industrial Realty by 2.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 337 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Rexford Industrial Realty by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after buying an additional 345 shares during the last quarter. Finally, Naviter Wealth LLC lifted its stake in Rexford Industrial Realty by 2.6% during the third quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 0.9 %

Shares of REXR stock opened at $40.30 on Friday. Rexford Industrial Realty has a 1-year low of $39.85 and a 1-year high of $58.02. The firm has a market cap of $8.96 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a 50-day moving average of $43.59 and a two-hundred day moving average of $46.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 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 analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

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 issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.14%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

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.