Rexford Industrial Realty (NYSE:REXR) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of Rexford Industrial Realty (NYSE:REXRGet Rating) in a report released on Tuesday, MarketBeat.com reports. The firm issued a market perform rating and a $63.00 target price on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Rexford Industrial Realty from $86.00 to $103.00 in a research report on Thursday, April 21st. StockNews.com assumed coverage on shares of Rexford Industrial Realty in a report on Thursday, March 31st. They set a hold rating for the company. Finally, Wells Fargo & Company decreased their price target on shares of Rexford Industrial Realty from $90.00 to $74.00 and set an overweight rating for the company in a report on Monday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty has an average rating of Moderate Buy and an average target price of $78.00.

Rexford Industrial Realty stock opened at $58.06 on Tuesday. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 2.90 and a beta of 0.70. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $67.95 and its two-hundred day moving average price is $71.67. Rexford Industrial Realty has a 52 week low of $55.84 and a 52 week high of $84.68.

Rexford Industrial Realty (NYSE:REXRGet Rating) last released its earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $141.60 million. Rexford Industrial Realty had a net margin of 29.60% and a return on equity of 3.22%. Rexford Industrial Realty’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Research analysts expect that Rexford Industrial Realty will post 1.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, June 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 143.18%.

In related news, CEO Howard Schwimmer sold 16,500 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $59.90, for a total transaction of $988,350.00. Following the transaction, the chief executive officer now owns 84,472 shares of the company’s stock, valued at $5,059,872.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. boosted its stake in shares of Rexford Industrial Realty by 3.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,392 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 150 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Rexford Industrial Realty by 28.7% in the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 162 shares in the last quarter. FourThought Financial LLC boosted its stake in shares of Rexford Industrial Realty by 11.8% in the 1st quarter. FourThought Financial LLC now owns 1,705 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 180 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 2.9% in the 1st quarter. Wetherby Asset Management Inc. now owns 6,932 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 196 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Rexford Industrial Realty by 4.3% in the 3rd quarter. Utah Retirement Systems now owns 7,200 shares of the real estate investment trust’s stock valued at $409,000 after purchasing an additional 300 shares in the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty (Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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