Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) have received an average rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment 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 analysts that have issued a report on the stock in the last year is $28.17.
Several brokerages have weighed in on REXR. DA Davidson reaffirmed a “buy” rating and issued a $33.00 target price (up from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, July 13th. FBR & Co began coverage on Rexford Industrial Realty in a research report on Tuesday, July 11th. They issued a “mkt perform” rating and a $26.00 target price on the stock. Wunderlich reaffirmed a “hold” rating and issued a $24.00 target price (up from $22.00) on shares of Rexford Industrial Realty in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Rexford Industrial Realty in a research report on Friday, July 14th.
Rexford Industrial Realty (REXR) traded down 1.31% during trading on Friday, reaching $27.20. 223,135 shares of the company were exchanged. Rexford Industrial Realty has a 52-week low of $20.05 and a 52-week high of $29.02. The firm’s 50 day moving average is $27.76 and its 200 day moving average is $25.16. The stock has a market capitalization of $1.93 billion and a PE ratio of 58.24.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $36.78 million for the quarter, compared to analyst estimates of $36.75 million. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. Analysts expect that Rexford Industrial Realty will post $0.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.145 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.58 annualized dividend and a dividend yield of 2.10%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Rexford Industrial Realty during the fourth quarter valued at about $580,000. Sei Investments Co. boosted its position in Rexford Industrial Realty by 5.4% in the first quarter. Sei Investments Co. now owns 514,163 shares of the company’s stock valued at $11,578,000 after buying an additional 26,148 shares during the last quarter. Renaissance Technologies LLC boosted its position in Rexford Industrial Realty by 276.2% in the fourth quarter. Renaissance Technologies LLC now owns 168,900 shares of the company’s stock valued at $3,917,000 after buying an additional 124,000 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Rexford Industrial Realty by 7.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 510,000 shares of the company’s stock valued at $11,485,000 after buying an additional 36,000 shares during the last quarter. Finally, Federated Investors Inc. PA acquired a new position in Rexford Industrial Realty during the fourth quarter valued at about $209,000.
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. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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