Rexford Industrial Realty, Inc. (NYSE:REXR) Given Consensus Rating of "Hold" by Analysts

Key Points

• Rexford Industrial Realty, Inc. has received a consensus rating of "Hold" from ten analysts, with one sell, seven hold, and two buy recommendations.
• The company announced a quarterly dividend of $0.43, resulting in an annualized dividend yield of 4.58%, with a payout ratio of 127.41%.
• Rexford's recent earnings report showed a 0.59 earnings per share for the quarter, beating expectations, but revenue fell short of analysts' predictions.

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the ten research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.82.

Several research analysts have recently commented on REXR shares. Wells Fargo & Company lowered their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Truist Financial cut their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI cut shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. JPMorgan Chase & Co. lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Scotiabank decreased their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Rexford Industrial Realty

Institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in Rexford Industrial Realty by 297.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,108 shares of the real estate investment trust's stock worth $751,000 after acquiring an additional 15,797 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at approximately $586,000. Yousif Capital Management LLC raised its position in shares of Rexford Industrial Realty by 2.5% during the 2nd quarter. Yousif Capital Management LLC now owns 87,346 shares of the real estate investment trust's stock valued at $3,107,000 after acquiring an additional 2,131 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Rexford Industrial Realty by 3.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 13,059 shares of the real estate investment trust's stock worth $472,000 after buying an additional 423 shares during the period. Finally, CWM LLC increased its position in Rexford Industrial Realty by 637.5% in the second quarter. CWM LLC now owns 31,129 shares of the real estate investment trust's stock worth $1,107,000 after buying an additional 26,908 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

NYSE REXR traded up $0.01 on Friday, hitting $37.59. 2,374,462 shares of the company's stock traded hands, compared to its average volume of 3,404,824. The company has a current ratio of 5.59, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average price is $36.30 and its two-hundred day moving average price is $37.24. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.61. The firm has a market capitalization of $8.90 billion, a PE ratio of 27.84, a P/E/G ratio of 4.18 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same quarter last year, the business earned $0.60 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.58%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is 127.41%.

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.