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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned an average rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $50.73.

Several research analysts have recently commented on REXR shares. Mizuho reduced their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $37.22 on Tuesday. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The business’s fifty day moving average price is $40.66 and its two-hundred day moving average price 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 company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. As a group, analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors have recently made changes to their positions in REXR. UMB Bank n.a. boosted its holdings in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 447 shares during the last quarter. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty during the second quarter valued at approximately $41,000. GAMMA Investing LLC increased its stake in Rexford Industrial Realty by 111.7% in the third 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 in the last quarter. Archer Investment Corp raised its holdings in Rexford Industrial Realty by 61.5% in 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 stake in Rexford Industrial Realty in the third quarter worth $129,000. 99.52% of the stock is owned by institutional investors and hedge funds.

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.