Rexford Industrial Realty (NYSE:REXR) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Rexford Industrial Realty (NYSE:REXR) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Several other research firms have also recently commented on REXR. Evercore ISI began coverage on shares of Rexford Industrial Realty in a research report on Wednesday, July 10th. They issued an outperform rating and a $54.00 price objective on the stock. Robert W. Baird decreased their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Wedbush began coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a neutral rating and a $45.00 price objective on the stock. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a sector outperform rating for the company in a research report on Thursday, May 16th. Finally, Truist Financial cut their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of Hold and an average price target of $52.60.

Rexford Industrial Realty Stock Down 1.8 %

Shares of NYSE:REXR opened at $48.50 on Monday. The company has a 50 day moving average price of $45.73 and a two-hundred day moving average price of $48.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 1.73. The company has a market capitalization of $10.65 billion, a PE ratio of 44.50, a PEG ratio of 2.00 and a beta of 0.92. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. Analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.4175 per share. The ex-dividend date is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.44%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Institutional Trading of Rexford Industrial Realty

Institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its stake in Rexford Industrial Realty by 25.1% during the second quarter. Retirement Systems of Alabama now owns 586,903 shares of the real estate investment trust’s stock worth $26,170,000 after purchasing an additional 117,857 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its position in shares of Rexford Industrial Realty by 8.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,272 shares of the real estate investment trust’s stock worth $15,529,000 after buying an additional 27,111 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Rexford Industrial Realty by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock worth $2,742,000 after buying an additional 800 shares during the period. Koa Wealth Management LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at $318,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at $1,642,000. 99.52% of the stock is currently owned by institutional investors.

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.