Rexford Industrial Realty Inc (REXR) Receives Average Rating of “Hold” from Brokerages

Share on StockTwits

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.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Rexford Industrial Realty had a net margin of 22.47% and a return on equity of 3.18%. The firm had revenue of $54.47 million for the quarter, compared to the consensus estimate of $55.09 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. As a group, equities analysts forecast that Rexford Industrial Realty will post 1.09 earnings per share for the current fiscal year.

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.

Recommended Story: Bond

Analyst Recommendations for Rexford Industrial Realty (NYSE:REXR)

Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2019 BBNS.