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

Rexford Industrial Realty, Inc. (NYSE:REXR) has been assigned a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.75.

REXR has been the subject of a number of analyst reports. Barclays cut their price target on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $40.62 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $39.60 and its 200-day moving average price is $44.06. Rexford Industrial Realty has a 52 week low of $36.92 and a 52 week high of $53.88. The stock has a market cap of $9.26 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.62 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities research analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.23%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors have recently bought and sold shares of REXR. Creative Planning increased its holdings in Rexford Industrial Realty by 36.1% during the third quarter. Creative Planning now owns 24,381 shares of the real estate investment trust’s stock valued at $1,227,000 after buying an additional 6,468 shares during the period. Signaturefd LLC increased its holdings in Rexford Industrial Realty by 22.2% during the third quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 479 shares during the period. International Assets Investment Management LLC increased its holdings in Rexford Industrial Realty by 4,835.8% during the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,563 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rexford Industrial Realty by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,455 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 2,182 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in Rexford Industrial Realty by 1.9% during the third quarter. State of Alaska Department of Revenue now owns 130,309 shares of the real estate investment trust’s stock valued at $6,554,000 after buying an additional 2,421 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.