Rexford Industrial Realty Inc (NYSE:REXR) has earned an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $36.25.
Several equities research analysts have commented on REXR shares. Wells Fargo & Co upped their target price on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. Finally, Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, December 28th.
Shares of REXR traded up $0.28 on Friday, reaching $36.57. 3,507 shares of the company’s stock were exchanged, compared to its average volume of 688,297. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.81 and a quick ratio of 8.81. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 4.21 and a beta of 0.87. Rexford Industrial Realty has a 12 month low of $27.78 and a 12 month high of $36.52.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $56.13 million during the quarter, compared to the consensus estimate of $55.81 million. Rexford Industrial Realty had a net margin of 21.82% and a return on equity of 2.98%. Rexford Industrial Realty’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, analysts expect that Rexford Industrial Realty will post 1.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, March 28th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.16. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Rexford Industrial Realty by 9.9% in the third quarter. Vanguard Group Inc. now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after purchasing an additional 1,128,837 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Rexford Industrial Realty by 9.9% in the third quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after buying an additional 1,128,837 shares during the period. BlackRock Inc. boosted its holdings in shares of Rexford Industrial Realty by 4.8% in the fourth quarter. BlackRock Inc. now owns 10,579,277 shares of the real estate investment trust’s stock valued at $311,772,000 after buying an additional 487,419 shares during the period. Deutsche Bank AG boosted its holdings in shares of Rexford Industrial Realty by 7.4% in the fourth quarter. Deutsche Bank AG now owns 4,203,326 shares of the real estate investment trust’s stock valued at $123,868,000 after buying an additional 290,492 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 115.1% in the third quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock valued at $83,671,000 after buying an additional 1,400,758 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.
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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