Shares of Rexford Industrial Realty Inc (NYSE:REXR) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to 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.
REXR has been the topic of several recent analyst reports. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, November 2nd. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, October 4th.
In other news, CFO Adeel Khan bought 2,250 shares of the stock in a transaction on Friday, November 16th. The shares were bought at an average price of $22.43 per share, with a total value of $50,467.50. Following the completion of the acquisition, the chief financial officer now owns 2,250 shares in the company, valued at $50,467.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in shares of Rexford Industrial Realty by 107.3% in the second quarter. Macquarie Group Ltd. now owns 329,999 shares of the real estate investment trust’s stock worth $10,358,000 after buying an additional 170,812 shares during the period. Strs Ohio raised its stake in shares of Rexford Industrial Realty by 2.7% in the second quarter. Strs Ohio now owns 137,777 shares of the real estate investment trust’s stock worth $4,324,000 after buying an additional 3,670 shares during the period. Toronto Dominion Bank bought a new position in shares of Rexford Industrial Realty in the second quarter worth about $282,000. American Century Companies Inc. bought a new position in shares of Rexford Industrial Realty in the second quarter worth about $15,615,000. Finally, Moody Aldrich Partners LLC raised its stake in shares of Rexford Industrial Realty by 41.6% in the third quarter. Moody Aldrich Partners LLC now owns 249,009 shares of the real estate investment trust’s stock worth $7,958,000 after buying an additional 73,114 shares during the period.
Rexford Industrial Realty stock opened at $32.64 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.21 and a current ratio of 6.21. Rexford Industrial Realty has a one year low of $26.32 and a one year high of $33.54. The firm has a market cap of $3.03 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The company had revenue of $54.47 million for the quarter, compared to analysts’ expectations of $55.09 million. During the same period last year, the firm posted $0.25 earnings per share. Rexford Industrial Realty’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts anticipate that Rexford Industrial Realty will post 1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, December 28th. Rexford Industrial Realty’s dividend payout ratio is 66.67%.
Rexford Industrial Realty Company Profile
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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