Rexford Industrial Realty (NYSE:REXR) Reaches New 52-Week High at $53.15


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Rexford Industrial Realty, Inc. (NYSE:REXR) reached a new 52-week high on Thursday . The stock traded as high as $53.15 and last traded at $52.95, with a volume of 1589 shares. The stock had previously closed at $52.63.

A number of research firms recently weighed in on REXR. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Tuesday, February 23rd. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, March 26th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.50.

The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.46 and a current ratio of 6.45. The stock has a market cap of $6.96 billion, a PE ratio of 90.74, a price-to-earnings-growth ratio of 5.10 and a beta of 0.59. The company’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $48.77.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Rexford Industrial Realty had a net margin of 26.29% and a return on equity of 3.14%. The business had revenue of $88.65 million during the quarter, compared to analysts’ expectations of $88.19 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 1.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.81%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, March 30th. Rexford Industrial Realty’s payout ratio is currently 78.05%.

A number of institutional investors have recently added to or reduced their stakes in REXR. Perigon Wealth Management LLC bought a new position in Rexford Industrial Realty in the 4th quarter valued at $36,000. Advisors Asset Management Inc. bought a new position in Rexford Industrial Realty in the 3rd quarter valued at $137,000. Van ECK Associates Corp boosted its holdings in Rexford Industrial Realty by 31.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,746 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 894 shares during the period. CIBC Asset Management Inc bought a new position in Rexford Industrial Realty in the 4th quarter valued at $201,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Rexford Industrial Realty in the 4th quarter valued at $208,000. Institutional investors and hedge funds own 98.73% of the company’s stock.

About Rexford Industrial Realty (NYSE:REXR)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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