Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts rate Rexford Industrial Realty “Hold” overall: Of 15 covering firms, seven recommend buying, five holding and three selling; the average 12-month price target is $41.14.
• Latest quarterly results were mixed: EPS of $0.07 missed the $0.60 consensus estimate, while revenue of $239.1 million exceeded forecasts but fell 5.6% year over year.
• The company declared a quarterly dividend of $0.435 per share, equivalent to $1.74 annually and a stated yield of 4.6%.

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) have been given an average rating of "Hold" by the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $41.14.

A number of brokerages have recently issued reports on REXR. Evercore restated an "outperform" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Truist Financial lifted their price target on Rexford Industrial Realty from $39.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, November 3rd. Cantor Fitzgerald lowered their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, October 26th. Mizuho raised shares of Rexford Industrial Realty from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $38.00 to $41.00 in a research report on Tuesday, October 13th. Finally, Wall Street Zen raised shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Rexford Industrial Realty in the second quarter valued at approximately $1,293,168,000. GSA Capital Partners LLP acquired a new position in shares of Rexford Industrial Realty during the second quarter worth $2,864,000. Bank of America Corp DE bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $79,547,000. Westpac Banking Corp bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $2,520,000. Finally, The Manufacturers Life Insurance Company grew its position in Rexford Industrial Realty by 13.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 445,528 shares of the real estate investment trust's stock worth $14,582,000 after acquiring an additional 52,029 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $37.58 on Friday. Rexford Industrial Realty has a 12-month low of $32.14 and a 12-month high of $42.41. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -17.81 and a beta of 1.11. The stock's 50 day moving average price is $37.60 and its two-hundred day moving average price is $36.36. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53). The business had revenue of $239.10 million for the quarter, compared to analyst estimates of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, analysts anticipate that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.4350 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, December 31st. Rexford Industrial Realty's payout ratio is -82.46%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc. is a real estate investment trust that owns, operates, acquires, develops and redevelops industrial properties. Its portfolio primarily serves businesses that need warehouse, distribution, manufacturing and other industrial space. The company focuses on infill markets in Southern California, including Los Angeles, Orange County, San Diego, the Inland Empire and Ventura County. Its strategy centers on properties in established areas with access to customers, workers and transportation networks.

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