Rexford Industrial Realty, Inc. (NYSE:REXR) Given Average Recommendation of “Buy” by Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $78.25.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Rexford Industrial Realty from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $84.00 in a research report on Monday, December 20th. Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, March 15th. StockNews.com initiated coverage on shares of Rexford Industrial Realty in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Friday, April 1st.

Rexford Industrial Realty stock opened at $76.18 on Friday. The company has a 50-day simple moving average of $72.27 and a 200-day simple moving average of $71.06. The firm has a market capitalization of $12.23 billion, a P/E ratio of 95.23, a P/E/G ratio of 4.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. Rexford Industrial Realty has a one year low of $52.47 and a one year high of $81.68.

Rexford Industrial Realty (NYSE:REXRGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The real estate investment trust reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. Rexford Industrial Realty had a net margin of 28.36% and a return on equity of 3.16%. During the same quarter last year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that Rexford Industrial Realty will post 1.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 1.65%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 30th. Rexford Industrial Realty’s dividend payout ratio is presently 157.50%.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares of the company’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $70.04, for a total value of $827,452.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Norges Bank purchased a new stake in Rexford Industrial Realty during the fourth quarter valued at about $336,883,000. BlackRock Inc. increased its holdings in Rexford Industrial Realty by 8.6% in the fourth quarter. BlackRock Inc. now owns 19,810,848 shares of the real estate investment trust’s stock worth $1,606,859,000 after buying an additional 1,569,782 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $108,822,000. State Street Corp boosted its position in shares of Rexford Industrial Realty by 16.8% in the fourth quarter. State Street Corp now owns 7,251,109 shares of the real estate investment trust’s stock valued at $589,854,000 after acquiring an additional 1,043,035 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Rexford Industrial Realty by 19.4% in the fourth quarter. Invesco Ltd. now owns 5,910,197 shares of the real estate investment trust’s stock valued at $479,377,000 after acquiring an additional 959,157 shares during the period. 99.23% of the stock is owned by institutional investors.

Rexford Industrial Realty Company Profile (Get Rating)

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013, and is headquartered in Los Angeles, CA.

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