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

Rexford Industrial Realty, Inc. (NYSE:REXR) has been assigned a consensus rating of “Hold” from the ten analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $40.00.

REXR has been the topic of a number of recent research reports. Scotiabank lowered their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Barclays lowered their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a research report on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $37.11 on Friday. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The stock’s 50-day moving average is $34.15 and its 200-day moving average is $37.98. Rexford Industrial Realty has a one year low of $29.68 and a one year high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 138.71%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Rexford Industrial Realty by 403.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. boosted its stake in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA boosted its stake in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 370 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.