Rexford Industrial Realty, Inc. (NYSE:REXR) Given Average Recommendation of "Hold" by Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) have been given a consensus rating of "Hold" by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $40.00.

REXR has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Scotiabank reduced their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Evercore ISI decreased their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, April 21st.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR traded up $0.56 during mid-day trading on Friday, reaching $36.59. 1,939,984 shares of the company traded hands, compared to its average volume of 2,042,327. Rexford Industrial Realty has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $8.66 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The stock has a fifty day simple moving average of $34.13 and a 200-day simple moving average of $37.99.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The business had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Equities research analysts anticipate that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 138.71%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REXR. Vanguard Group Inc. raised its holdings in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock worth $1,202,339,000 after acquiring an additional 779,095 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Rexford Industrial Realty by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust's stock worth $1,074,413,000 after acquiring an additional 445,743 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Rexford Industrial Realty by 130.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after acquiring an additional 4,384,624 shares during the period. Centersquare Investment Management LLC raised its holdings in Rexford Industrial Realty by 7.0% in the 1st quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock worth $188,235,000 after acquiring an additional 315,869 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after acquiring an additional 954,202 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

About Rexford Industrial Realty

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.