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 rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $50.73.

Several research firms have issued reports on REXR. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $49.00 in a report on Monday, October 21st. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th.

Rexford Industrial Realty Trading Down 2.7 %

NYSE:REXR opened at $37.22 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business’s 50-day simple moving average is $40.66 and its 200-day simple moving average is $45.79. Rexford Industrial Realty has a fifty-two week low of $36.92 and a fifty-two week high of $56.14. The stock has a market capitalization of $8.28 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last announced 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 net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same period in the previous year, the firm posted $0.56 EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Sell-side analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.49%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its position in shares of Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 447 shares during the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty in the 2nd quarter valued at $41,000. GAMMA Investing LLC lifted its holdings in Rexford Industrial Realty by 111.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 976 shares during the last quarter. Archer Investment Corp boosted its position in Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 800 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Rexford Industrial Realty in the third quarter valued at $129,000. Institutional investors 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.