Rexford Industrial Realty, Inc. (NYSE:REXR) Given Average Recommendation of "Hold" by Analysts

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) has been given a consensus recommendation of "Hold" by the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $52.09.

Several equities research analysts have issued reports on the company. Scotiabank lifted their price target on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 26th. Bank of America cut shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $66.00 to $49.00 in a report on Monday. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th.

Insider Activity

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Institutional Trading of Rexford Industrial Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graham Capital Wealth Management LLC purchased a new stake in Rexford Industrial Realty in the third quarter valued at $2,215,000. State of Alaska Department of Revenue lifted its holdings in Rexford Industrial Realty by 1.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 130,309 shares of the real estate investment trust's stock valued at $6,554,000 after purchasing an additional 2,421 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Rexford Industrial Realty by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,455 shares of the real estate investment trust's stock worth $427,000 after buying an additional 2,182 shares during the period. Legacy Wealth Asset Management LLC raised its position in shares of Rexford Industrial Realty by 29.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 11,994 shares of the real estate investment trust's stock worth $603,000 after buying an additional 2,731 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Rexford Industrial Realty by 4,835.8% during the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust's stock worth $132,000 after purchasing an additional 2,563 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Down 1.1 %

NYSE:REXR traded down $0.51 during trading hours on Thursday, reaching $44.58. The company's stock had a trading volume of 1,125,155 shares, compared to its average volume of 1,716,766. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.73. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The business's 50-day moving average is $49.61 and its 200-day moving average is $47.25.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. Equities research analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.75%. Rexford Industrial Realty's dividend payout ratio is currently 135.77%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.