Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Has Average Price Target of $41.13

Rexford Industrial Realty, Inc. (NYSE:REXR) has been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $40.67.

Several research analysts have recently issued reports on the stock. Evercore reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, August 3rd. Cantor Fitzgerald reduced their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. Finally, Barclays lowered their target price on shares of Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, July 16th.

Rexford Industrial Realty Trading Down 1.8%

REXR stock opened at $38.00 on Tuesday. The business’s 50 day moving average is $37.32 and its 200-day moving average is $36.50. The company has a current ratio of 4.08, a quick ratio of 1.70 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8.47 billion, a P/E ratio of -18.01 and a beta of 1.18. Rexford Industrial Realty has a 1-year low of $32.14 and a 1-year high of $42.66.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.53). The company had revenue of $239.10 million during the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Equities analysts anticipate that Rexford Industrial Realty will post 2.42 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.4350 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently -82.46%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at about $1,293,168,000. Bank of America Corp DE acquired a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at approximately $79,547,000. GSA Capital Partners LLP bought a new position in Rexford Industrial Realty during the 2nd quarter worth approximately $2,864,000. Hsbc Holdings PLC boosted its stake in Rexford Industrial Realty by 17.7% during the 4th quarter. Hsbc Holdings PLC now owns 387,836 shares of the real estate investment trust’s stock worth $15,017,000 after acquiring an additional 58,270 shares during the last quarter. Finally, Westpac Banking Corp bought a new position in Rexford Industrial Realty during the 2nd quarter worth approximately $2,520,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.