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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $52.44.

Several analysts have issued reports on REXR shares. Robert W. Baird lowered their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Scotiabank lowered their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Wedbush started coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. Barclays increased their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Finally, Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Rexford Industrial Realty by 139.5% in the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares during the period. Tower Research Capital LLC TRC raised its holdings in Rexford Industrial Realty by 116.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock valued at $2,589,000 after buying an additional 24,793 shares during the last quarter. First Financial Bank Trust Division bought a new stake in Rexford Industrial Realty during the 1st quarter valued at $2,551,000. Pacer Advisors Inc. raised its holdings in Rexford Industrial Realty by 12.8% during the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after buying an additional 23,510 shares during the last quarter. Finally, GSI Capital Advisors LLC raised its holdings in Rexford Industrial Realty by 45.0% during the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after buying an additional 59,320 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Up 1.3 %

Rexford Industrial Realty stock opened at $44.44 on Friday. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The firm has a 50 day moving average price of $44.42 and a 200-day moving average price of $49.72. The company has a market capitalization of $9.68 billion, a P/E ratio of 40.77, a P/E/G ratio of 1.77 and a beta of 0.93. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million for 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 business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, equities analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current 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 dividend of $0.417 per share. This represents a $1.67 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

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.