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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $53.36.

Several equities analysts have issued reports on the company. Truist Financial dropped their target price on 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. Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Robert W. Baird decreased their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Wednesday, February 7th.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $44.31 on Thursday. The stock has a market capitalization of $9.65 billion, a P/E ratio of 40.65, a P/E/G ratio of 1.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The company’s fifty day moving average is $48.24 and its two-hundred day moving average is $50.25.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. On average, sell-side analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s payout ratio is 153.21%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of REXR. SG Americas Securities LLC increased its position in Rexford Industrial Realty by 2.9% during the first quarter. SG Americas Securities LLC now owns 31,482 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 895 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Rexford Industrial Realty by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 184,444 shares of the real estate investment trust’s stock worth $9,278,000 after buying an additional 2,089 shares during the period. Easterly Investment Partners LLC purchased a new stake in Rexford Industrial Realty during the first quarter valued at about $2,867,000. FORA Capital LLC acquired a new stake in Rexford Industrial Realty during the first quarter worth about $3,239,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Rexford Industrial Realty by 894.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock worth $39,926,000 after purchasing an additional 713,907 shares during the period. 99.52% of the stock is currently 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.