Rexford Industrial Realty Inc (REXR) Rating Reiterated by Jefferies Group LLC
Rexford Industrial Realty Inc (NASDAQ:REXR)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research note issued to investors on Monday. They currently have a $26.00 price objective on the stock. Jefferies Group LLC’s price target indicates a potential upside of 18.07% from the company’s current price.
Separately, Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.60.
Shares of Rexford Industrial Realty (NASDAQ:REXR) traded down 0.41% on Monday, reaching $22.02. The company had a trading volume of 610,639 shares. Rexford Industrial Realty has a 12 month low of $17.37 and a 12 month high of $24.39. The stock has a market cap of $1.46 billion and a PE ratio of 61.17. The stock has a 50-day moving average price of $22.54 and a 200-day moving average price of $22.40.
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Rexford Industrial Realty (NASDAQ:REXR) last announced its earnings results on Thursday, February 16th. The company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $34.77 million for the quarter, compared to analyst estimates of $29.45 million. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. Analysts predict that Rexford Industrial Realty will post $0.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, March 29th.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of Rexford Industrial Realty by 9.0% in the third quarter. Prudential Financial Inc. now owns 1,672,110 shares of the company’s stock worth $38,275,000 after buying an additional 138,612 shares in the last quarter. Sei Investments Co. increased its position in shares of Rexford Industrial Realty by 2.8% in the third quarter. Sei Investments Co. now owns 637,654 shares of the company’s stock worth $14,595,000 after buying an additional 17,483 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Rexford Industrial Realty by 3.3% in the third quarter. UBS Asset Management Americas Inc. now owns 87,774 shares of the company’s stock worth $2,009,000 after buying an additional 2,800 shares in the last quarter. IndexIQ Advisors LLC increased its position in shares of Rexford Industrial Realty by 24.3% in the third quarter. IndexIQ Advisors LLC now owns 65,975 shares of the company’s stock worth $1,510,000 after buying an additional 12,889 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Rexford Industrial Realty by 70.9% in the third quarter. KBC Group NV now owns 36,524 shares of the company’s stock worth $836,000 after buying an additional 15,149 shares in the last quarter.
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. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.
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