Zacks Investment Research Lowers Rexford Industrial Realty (REXR) to Sell

Zacks Investment Research downgraded shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a report published on Saturday.

According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. Rexford Industrial Realty, Inc. is based in Los Angeles, California. “

Several other equities research analysts also recently issued reports on the company. DA Davidson reaffirmed a buy rating on shares of Rexford Industrial Realty in a research report on Wednesday, February 14th. Capital One Financial downgraded Rexford Industrial Realty from an overweight rating to an equal weight rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from a neutral rating to an underweight rating and set a $29.00 price target on the stock. in a research report on Friday, December 15th. National Securities reaffirmed a buy rating and issued a $34.00 price target on shares of Rexford Industrial Realty in a research report on Monday, November 27th. Finally, B. Riley reaffirmed a neutral rating on shares of Rexford Industrial Realty in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Rexford Industrial Realty presently has an average rating of Hold and a consensus price target of $30.78.

Shares of Rexford Industrial Realty (REXR) opened at $27.94 on Friday. The stock has a market capitalization of $2,180.00, a PE ratio of 58.21, a PEG ratio of 4.07 and a beta of 0.73. Rexford Industrial Realty has a 1 year low of $21.34 and a 1 year high of $31.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.10). The business had revenue of $45.88 million during the quarter, compared to analyst estimates of $45.29 million. Rexford Industrial Realty had a net margin of 25.23% and a return on equity of 4.01%. sell-side analysts predict that Rexford Industrial Realty will post 1.04 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.15. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 120.83%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $1,029,000. Newport Wealth Strategies Inc. bought a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $299,000. Teachers Advisors LLC lifted its stake in shares of Rexford Industrial Realty by 0.9% in the fourth quarter. Teachers Advisors LLC now owns 2,462,427 shares of the real estate investment trust’s stock valued at $71,804,000 after buying an additional 21,827 shares during the period. California State Teachers Retirement System lifted its stake in shares of Rexford Industrial Realty by 7.9% in the fourth quarter. California State Teachers Retirement System now owns 121,915 shares of the real estate investment trust’s stock valued at $3,555,000 after buying an additional 8,931 shares during the period. Finally, Heitman Real Estate Securities LLC lifted its stake in shares of Rexford Industrial Realty by 14.8% in the fourth quarter. Heitman Real Estate Securities LLC now owns 891,210 shares of the real estate investment trust’s stock valued at $25,988,000 after buying an additional 115,216 shares during the period.

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Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

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