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

Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) has been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $85.20.

Several brokerages recently commented on REXR. Robert W. Baird boosted their target price on Rexford Industrial Realty from $86.00 to $103.00 in a report on Thursday, April 21st. StockNews.com began coverage on Rexford Industrial Realty in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company boosted their target price on Rexford Industrial Realty from $81.00 to $90.00 in a report on Thursday, April 28th. Finally, Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Saturday.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $70.04, for a total value of $827,452.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in Rexford Industrial Realty by 411.2% during the 1st quarter. CWM LLC now owns 455 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 366 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Rexford Industrial Realty during the 4th quarter worth approximately $41,000. National Bank of Canada FI purchased a new position in Rexford Industrial Realty during the 4th quarter worth approximately $43,000. First Horizon Advisors Inc. grew its position in Rexford Industrial Realty by 28.7% during the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 162 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Rexford Industrial Realty by 197.6% during the 1st quarter. Quadrant Capital Group LLC now owns 750 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

REXR opened at $67.24 on Wednesday. Rexford Industrial Realty has a twelve month low of $52.47 and a twelve month high of $84.68. The stock has a market cap of $11.10 billion, a PE ratio of 76.41, a price-to-earnings-growth ratio of 3.63 and a beta of 0.69. The business’s 50 day moving average is $74.70 and its 200-day moving average is $73.22. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.29.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. The firm had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $141.60 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. As a group, analysts forecast that Rexford Industrial Realty will post 1.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a $0.315 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.26 annualized dividend and a yield of 1.87%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 143.18%.

About Rexford Industrial Realty (Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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