Rexford Industrial Realty (REXR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a report published on Saturday morning.

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. “

REXR has been the subject of a number of other research reports. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from a neutral rating to an underweight rating and set a $29.00 price target for the company. in a research note on Friday, December 15th. BidaskClub raised shares of Rexford Industrial Realty from a hold rating to a buy rating in a report on Saturday, November 4th. B. Riley reaffirmed a neutral rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. Capital One Financial lowered shares of Rexford Industrial Realty from an overweight rating to an equal weight rating in a report on Wednesday, February 14th. Finally, DA Davidson reaffirmed a buy rating on shares of Rexford Industrial Realty in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Rexford Industrial Realty presently has an average rating of Hold and a consensus price target of $30.78.

Rexford Industrial Realty (REXR) opened at $27.94 on Friday. The company has a market cap of $2,180.00, a PE ratio of 58.21, a price-to-earnings-growth ratio of 4.07 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Rexford Industrial Realty has a one year low of $21.34 and a one year high of $31.71.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.10). The business had revenue of $45.88 million for the quarter, compared to the consensus estimate of $45.29 million. Rexford Industrial Realty had a return on equity of 4.01% and a net margin of 25.23%. equities analysts expect that Rexford Industrial Realty will post 1.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.16 per share. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.29%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 120.83%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in shares of Rexford Industrial Realty by 0.4% during the second quarter. Stifel Financial Corp now owns 24,636 shares of the real estate investment trust’s stock worth $675,000 after buying an additional 100 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of 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 worth $103,000 after buying an additional 453 shares in the last quarter. BT Investment Management Ltd increased its holdings in shares of Rexford Industrial Realty by 1.3% during the third quarter. BT Investment Management Ltd now owns 147,000 shares of the real estate investment trust’s stock worth $4,207,000 after buying an additional 1,900 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Rexford Industrial Realty by 2.2% in the second quarter. New York State Common Retirement Fund now owns 99,943 shares of the real estate investment trust’s stock valued at $2,742,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in shares of Rexford Industrial Realty by 0.3% in the fourth quarter. Kennedy Capital Management Inc. now owns 856,936 shares of the real estate investment trust’s stock valued at $24,988,000 after purchasing an additional 2,744 shares in the last quarter.

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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. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

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