Shares of Rexford Industrial Realty Inc (NYSE:REXR) have earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.40.
Several research analysts have weighed in on REXR shares. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, October 4th. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Friday, November 2nd.
REXR traded down $0.44 during trading on Monday, hitting $32.40. 1,098,967 shares of the company’s stock were exchanged, compared to its average volume of 742,015. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.47. Rexford Industrial Realty has a fifty-two week low of $26.32 and a fifty-two week high of $33.54. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 3.66 and a beta of 0.66.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 28th. This represents a $0.64 annualized dividend and a yield of 1.98%. Rexford Industrial Realty’s payout ratio is currently 66.67%.
In other Rexford Industrial Realty news, CFO Adeel Khan bought 2,250 shares of the business’s stock in a transaction on Friday, November 16th. The stock was purchased at an average price of $22.43 per share, for a total transaction of $50,467.50. Following the completion of the transaction, the chief financial officer now directly owns 2,250 shares of the company’s stock, valued at $50,467.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Assetmark Inc. boosted its position in Rexford Industrial Realty by 2,555.0% during the second quarter. Assetmark Inc. now owns 3,717 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 3,577 shares during the period. Rehmann Capital Advisory Group boosted its position in Rexford Industrial Realty by 3,095.8% during the third quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 5,139 shares during the period. Nissay Asset Management Corp Japan ADV bought a new position in Rexford Industrial Realty during the third quarter worth about $205,000. D.A. Davidson & CO. bought a new position in Rexford Industrial Realty during the second quarter worth about $210,000. Finally, Toronto Dominion Bank bought a new position in Rexford Industrial Realty during the second quarter worth about $282,000.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 168 properties with approximately 20.6 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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