Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) have earned a consensus rating of “Hold” from the six analysts that are presently covering the firm. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.67.
Separately, Zacks Investment Research raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Thursday, February 23rd.
Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 22.11 on Tuesday. The firm has a market cap of $1.46 billion and a P/E ratio of 61.42. Rexford Industrial Realty has a 12 month low of $17.37 and a 12 month high of $24.39. The company has a 50-day moving average of $22.54 and a 200-day moving average of $22.40.
Rexford Industrial Realty (NASDAQ:REXR) last released its earnings results on Thursday, February 16th. The company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company earned $34.77 million during the quarter, compared to the consensus estimate of $29.45 million. Rexford Industrial Realty’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. Equities analysts forecast that Rexford Industrial Realty will post $0.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, March 29th.
Several large investors have recently added to or reduced their stakes in REXR. State Street Corp increased its stake in Rexford Industrial Realty by 2.4% in the fourth quarter. State Street Corp now owns 2,117,820 shares of the company’s stock valued at $49,111,000 after buying an additional 49,242 shares during the last quarter. BlackRock Fund Advisors increased its stake in Rexford Industrial Realty by 9.2% in the third quarter. BlackRock Fund Advisors now owns 1,733,249 shares of the company’s stock valued at $39,674,000 after buying an additional 146,249 shares during the last quarter. Prudential Financial Inc. increased its stake in Rexford Industrial Realty by 9.0% in the third quarter. Prudential Financial Inc. now owns 1,672,110 shares of the company’s stock valued at $38,275,000 after buying an additional 138,612 shares during the last quarter. Principal Financial Group Inc. increased its stake in Rexford Industrial Realty by 1.5% in the third quarter. Principal Financial Group Inc. now owns 1,513,344 shares of the company’s stock valued at $34,641,000 after buying an additional 22,201 shares during the last quarter. Finally, GRS Advisors LLC increased its stake in Rexford Industrial Realty by 8.0% in the third quarter. GRS Advisors LLC now owns 955,158 shares of the company’s stock valued at $21,864,000 after buying an additional 70,595 shares during the last quarter.
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. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.