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

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $48.50.

REXR has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Mizuho reduced their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective for the company. Robert W. Baird reduced their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Scotiabank lowered their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $39.00 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $52.61. The firm has a market capitalization of $8.89 billion, a P/E ratio of 32.23, a P/E/G ratio of 2.62 and a beta of 0.98. The business’s 50-day simple moving average is $40.27 and its 200-day simple moving average is $42.78.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.41%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is presently 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently modified their holdings of the stock. Fairtree Asset Management Pty Ltd bought a new stake in Rexford Industrial Realty in the fourth quarter valued at about $623,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Rexford Industrial Realty by 87.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,680 shares of the real estate investment trust’s stock worth $684,000 after acquiring an additional 8,256 shares in the last quarter. Phocas Financial Corp. bought a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $234,000. GF Fund Management CO. LTD. acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at approximately $154,000. Finally, Voloridge Investment Management LLC bought a new position in Rexford Industrial Realty during the fourth quarter worth $15,433,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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