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 received a consensus rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.00.

Several equities analysts recently commented on REXR shares. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Evercore ISI reduced their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Truist Financial reduced their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays dropped their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday, March 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in Rexford Industrial Realty during the 1st quarter valued at about $14,949,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Rexford Industrial Realty by 9.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,904,600 shares of the real estate investment trust's stock worth $74,565,000 after acquiring an additional 157,913 shares during the period. Zimmer Partners LP purchased a new position in shares of Rexford Industrial Realty during the 1st quarter worth approximately $18,596,000. Goldman Sachs Group Inc. grew its holdings in shares of Rexford Industrial Realty by 41.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock worth $70,931,000 after acquiring an additional 526,877 shares during the period. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Rexford Industrial Realty by 1.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 62,500 shares of the real estate investment trust's stock worth $2,447,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded up $0.52 during mid-day trading on Friday, hitting $36.07. The company had a trading volume of 2,137,788 shares, compared to its average volume of 2,042,738. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 2.62 and a beta of 1.14. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $52.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average price is $34.18 and its 200-day moving average price is $38.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The company had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. On average, sell-side analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.77%. Rexford Industrial Realty's dividend payout ratio is presently 138.71%.

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.