Zacks Investment Research cut shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a research note issued to investors on Saturday.
According to Zacks, “Rexford Industrial Realty, Inc. is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. Rexford Industrial Realty, Inc. is based in Los Angeles, California. “
Several other research firms have also recently weighed in on REXR. National Securities reaffirmed a buy rating and set a $34.00 target price on shares of Rexford Industrial Realty in a research note on Monday, November 27th. BidaskClub upgraded shares of Rexford Industrial Realty from a hold rating to a buy rating in a research report on Saturday, November 4th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from a neutral rating to an underweight rating and set a $29.00 price objective for the company. in a research report on Friday, December 15th. Capital One Financial lowered shares of Rexford Industrial Realty from an overweight rating to an equal weight rating in a research report on Wednesday, February 14th. Finally, B. Riley reiterated a neutral rating on shares of Rexford Industrial Realty in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Rexford Industrial Realty presently has a consensus rating of Hold and an average price target of $30.70.
Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.10). The company had revenue of $45.88 million for the quarter, compared to analysts’ expectations of $45.29 million. Rexford Industrial Realty had a net margin of 25.23% and a return on equity of 4.01%. equities analysts predict that Rexford Industrial Realty will post 1.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.64 annualized dividend and a yield of 2.36%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.15. Rexford Industrial Realty’s dividend payout ratio (DPR) is 120.83%.
A number of hedge funds have recently added to or reduced their stakes in REXR. Advisor Group Inc. lifted its position in Rexford Industrial Realty by 13.6% during the second quarter. Advisor Group Inc. now owns 3,787 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 453 shares during the last quarter. Jefferies Group LLC bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $222,000. Eaton Vance Management bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $229,000. BB&T Securities LLC bought a new stake in shares of Rexford Industrial Realty in the 3rd quarter worth about $231,000. Finally, Newport Wealth Strategies Inc. bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $299,000.
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Rexford Industrial Realty Company Profile
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. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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