Shares of Rexford Industrial Realty Inc (NYSE:REXR) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.40.
Several brokerages have recently issued reports on REXR. Zacks Investment Research cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Friday, November 2nd.
In other Rexford Industrial Realty news, CFO Adeel Khan purchased 2,250 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average price of $22.43 per share, for a total transaction of $50,467.50. Following the purchase, the chief financial officer now directly owns 2,250 shares in the company, valued at $50,467.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Rexford Industrial Realty by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,569,018 shares of the real estate investment trust’s stock worth $401,706,000 after purchasing an additional 1,128,837 shares during the period. Legal & General Group Plc lifted its stake in shares of Rexford Industrial Realty by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 787,368 shares of the real estate investment trust’s stock worth $25,164,000 after acquiring an additional 16,838 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Rexford Industrial Realty by 3,095.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 5,139 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Rexford Industrial Realty by 5.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,187,227 shares of the real estate investment trust’s stock worth $37,944,000 after acquiring an additional 57,648 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in shares of Rexford Industrial Realty by 84.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,726 shares of the real estate investment trust’s stock worth $437,000 after acquiring an additional 6,285 shares during the period.
Shares of Rexford Industrial Realty stock traded up $0.39 during trading hours on Monday, hitting $32.84. The company had a trading volume of 1,085,448 shares, compared to its average volume of 719,752. Rexford Industrial Realty has a twelve month low of $26.32 and a twelve month high of $33.54. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.62 and a beta of 0.66.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Rexford Industrial Realty had a net margin of 22.47% and a return on equity of 3.18%. The business had revenue of $54.47 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts forecast that Rexford Industrial Realty will post 1.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, December 28th. Rexford Industrial Realty’s payout ratio is 66.67%.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 168 properties with approximately 20.6 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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