StockNews.com Lowers Rexford Industrial Realty (NYSE:REXR) to Sell

StockNews.com downgraded shares of Rexford Industrial Realty (NYSE:REXRGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

REXR has been the topic of several other reports. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $90.00 to $74.00 and set an overweight rating on the stock in a research report on Monday, June 6th. Wolfe Research began coverage on Rexford Industrial Realty in a research report on Tuesday. They set a market perform rating and a $63.00 price target on the stock. Finally, Robert W. Baird raised their target price on Rexford Industrial Realty from $86.00 to $103.00 in a research report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of Moderate Buy and an average price target of $78.00.

NYSE REXR opened at $58.06 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s fifty day moving average price is $67.95 and its 200 day moving average price is $71.67. Rexford Industrial Realty has a 1 year low of $55.84 and a 1 year high of $84.68. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 65.98, a PEG ratio of 2.90 and a beta of 0.70.

Rexford Industrial Realty (NYSE:REXRGet Rating) last released its earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. The firm had revenue of $140.80 million for the quarter, compared to the consensus estimate of $141.60 million. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s revenue was up 41.1% on a year-over-year basis. Research analysts expect that Rexford Industrial Realty will post 1.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, June 29th. Rexford Industrial Realty’s dividend payout ratio is presently 143.18%.

In related news, CEO Howard Schwimmer sold 16,500 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $59.90, for a total value of $988,350.00. Following the transaction, the chief executive officer now directly owns 84,472 shares of the company’s stock, valued at approximately $5,059,872.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after buying an additional 1,587,612 shares during the last quarter. BlackRock Inc. increased its holdings in Rexford Industrial Realty by 2.8% in the 1st quarter. BlackRock Inc. now owns 20,363,229 shares of the real estate investment trust’s stock valued at $1,518,893,000 after purchasing an additional 552,381 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Rexford Industrial Realty by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 9,557,989 shares of the real estate investment trust’s stock valued at $712,930,000 after purchasing an additional 166,571 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in Rexford Industrial Realty by 2,797.2% in the 1st quarter. DigitalBridge Group Inc. now owns 9,155,276 shares of the real estate investment trust’s stock valued at $32,436,000 after purchasing an additional 8,839,276 shares during the last quarter. Finally, State Street Corp increased its holdings in Rexford Industrial Realty by 19.0% in the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after purchasing an additional 1,375,680 shares during the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile (Get Rating)

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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Analyst Recommendations for Rexford Industrial Realty (NYSE:REXR)

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