Rexford Industrial Realty Inc (NASDAQ:REXR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

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. “

Separately, Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Rexford Industrial Realty in a report on Monday, March 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rexford Industrial Realty has a consensus rating of “Buy” and an average target price of $24.60.

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Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 24.67 on Friday. The stock has a 50 day moving average price of $22.78 and a 200 day moving average price of $22.52. The stock has a market capitalization of $1.63 billion and a P/E ratio of 68.53. Rexford Industrial Realty has a 12-month low of $18.45 and a 12-month high of $24.84.

Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Thursday, February 16th. The company reported $0.23 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.23. The business had revenue of $34.77 million for the quarter, compared to the consensus estimate of $29.45 million. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. On average, equities analysts anticipate that Rexford Industrial Realty will post $0.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were issued a dividend of $0.135 per share. The ex-dividend date was Wednesday, March 29th. This represents a $0.54 annualized dividend and a yield of 2.19%.

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Large investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Rexford Industrial Realty by 2.4% in the fourth quarter. State Street Corp now owns 2,117,820 shares of the company’s stock valued at $49,111,000 after buying an additional 49,242 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Rexford Industrial Realty by 9.2% in the third quarter. BlackRock Fund Advisors now owns 1,733,249 shares of the company’s stock valued at $39,674,000 after buying an additional 146,249 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Rexford Industrial Realty by 1.5% in the third quarter. Principal Financial Group Inc. now owns 1,513,344 shares of the company’s stock valued at $34,641,000 after buying an additional 22,201 shares during the last quarter. GRS Advisors LLC boosted its stake in shares of Rexford Industrial Realty by 8.0% in the third quarter. GRS Advisors LLC now owns 955,158 shares of the company’s stock valued at $21,864,000 after buying an additional 70,595 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $21,879,000.

About Rexford Industrial Realty

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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