Rexford Industrial Realty Inc (NYSE:REXR) has received a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $32.40.
REXR has been the topic of several analyst reports. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Capital One Financial raised shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 1st.
Hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Rexford Industrial Realty by 2,555.0% in the second quarter. Assetmark Inc. now owns 3,717 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 3,577 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Rexford Industrial Realty by 104.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 2,158 shares in the last quarter. Nissay Asset Management Corp Japan ADV purchased a new position in shares of Rexford Industrial Realty in the third quarter worth $205,000. D.A. Davidson & CO. purchased a new position in shares of Rexford Industrial Realty in the second quarter worth $210,000. Finally, Toronto Dominion Bank purchased a new position in shares of Rexford Industrial Realty in the second quarter worth $282,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $54.47 million during the quarter, compared to analyst estimates of $55.09 million. Rexford Industrial Realty had a net margin of 22.47% and a return on equity of 3.18%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. Sell-side analysts predict that Rexford Industrial Realty will post 1.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, December 28th. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
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