Rexford Industrial Realty (NYSE:REXR) Upgraded 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 report released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. BNP Paribas Exane upped their price objective on shares of Rexford Industrial Realty from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, October 26th. Cantor Fitzgerald lowered their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, September 1st. Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 15th. Finally, Evercore reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.13.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $38.60 on Friday. Rexford Industrial Realty has a one year low of $32.14 and a one year high of $42.41. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 15.28 and a beta of 1.18. The business has a 50-day simple moving average of $37.44 and a 200 day simple moving average of $36.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 1.70.

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

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.4350 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.74 annualized dividend and a dividend yield of 4.5%. Rexford Industrial Realty’s dividend payout ratio is currently -82.46%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth $400,000. Provenance Wealth Advisors LLC bought a new position in Rexford Industrial Realty during the third quarter valued at about $26,000. Vise Technologies Inc. bought a new position in Rexford Industrial Realty during the third quarter valued at about $308,000. D.A. Davidson & CO. purchased a new stake in Rexford Industrial Realty during the third quarter worth about $2,180,000. Finally, Asset Management One Co. Ltd. increased its holdings in Rexford Industrial Realty by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 311,893 shares of the real estate investment trust’s stock worth $11,312,000 after buying an additional 3,823 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Company Profile

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.