Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eleven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $48.67.
Several equities research analysts recently issued reports on REXR shares. Mizuho dropped their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Barclays lowered their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a research note on Monday, January 13th. Truist Financial lowered their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank lowered their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research note on Friday.
Get Our Latest Report on REXR
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Rexford Industrial Realty by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock worth $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after buying an additional 954,202 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in Rexford Industrial Realty by 32.3% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after buying an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rexford Industrial Realty by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after buying an additional 70,710 shares in the last quarter. Finally, Rush Island Management LP bought a new position in Rexford Industrial Realty during the fourth quarter valued at about $132,701,000. Institutional investors own 99.52% of the company's stock.
Rexford Industrial Realty Stock Performance
Shares of REXR stock traded up $0.59 on Wednesday, hitting $41.38. 2,845,729 shares of the stock traded hands, compared to its average volume of 2,010,416. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $9.43 billion, a PE ratio of 34.19, a PEG ratio of 2.62 and a beta of 0.95. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $53.88. The company's fifty day moving average is $39.77 and its 200 day moving average is $43.95.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, equities research analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.
Rexford Industrial Realty Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.16%. Rexford Industrial Realty's dividend payout ratio is presently 142.15%.
About Rexford Industrial Realty
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Get Free ReportRexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
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