Rexford Industrial Realty (NYSE:REXR) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Rexford Industrial Realty (NYSE:REXR) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. BMO Capital Markets lifted their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. BNP Paribas Exane boosted their price target on shares of Rexford Industrial Realty from $38.00 to $41.00 and gave the company a “hold” rating in a report on Monday, October 26th. Evercore reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Finally, Citigroup cut their price objective on Rexford Industrial Realty from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.87.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $38.16 on Friday. Rexford Industrial Realty has a 12 month low of $32.14 and a 12 month high of $42.41. The company has a current ratio of 4.08, a quick ratio of 1.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $8.10 billion, a P/E ratio of -18.09 and a beta of 1.18. The stock has a 50 day moving average of $37.41 and a two-hundred day moving average of $36.46.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The firm had revenue of $239.10 million during the quarter, compared to analyst estimates of $232.95 million. During the same quarter in the prior year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Rexford Industrial Realty will post 2.42 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.4350 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, December 31st. Rexford Industrial Realty’s payout ratio is currently -82.46%.

Institutional Trading of Rexford Industrial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of REXR. Elevation Wealth Partners LLC grew its holdings in Rexford Industrial Realty by 125.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 700 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 390 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Rexford Industrial Realty in the 1st quarter worth $33,000. Allworth Financial LP purchased a new stake in Rexford Industrial Realty during the second quarter valued at about $33,000. Finally, Root Financial Partners LLC purchased a new stake in Rexford Industrial Realty in the third quarter worth approximately $35,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.