Rexford Industrial Realty (NYSE:REXR) Downgraded by StockNews.com

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

Several other analysts also recently issued reports on REXR. Robert W. Baird upped their price target on shares of Rexford Industrial Realty from $86.00 to $103.00 in a report on Thursday, April 21st. Wolfe Research started coverage on shares of Rexford Industrial Realty in a report on Tuesday. They issued a market perform rating and a $63.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $90.00 to $74.00 and set an overweight rating on the stock in a research note on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $78.00.

Shares of NYSE REXR opened at $58.06 on Tuesday. Rexford Industrial Realty has a 12-month low of $55.84 and a 12-month high of $84.68. The company has a market capitalization of $9.58 billion, a PE ratio of 65.98, a price-to-earnings-growth ratio of 2.90 and a beta of 0.70. 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 firm’s 50-day moving average is $67.95 and its two-hundred day moving average is $71.67.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its quarterly 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 net margin of 29.60% and a return on equity of 3.22%. The company had revenue of $140.80 million for the quarter, compared to the consensus estimate of $141.60 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. On average, analysts forecast that Rexford Industrial Realty will post 1.93 EPS for the current fiscal year.

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

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 16,500 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $59.90, for a total transaction of $988,350.00. Following the transaction, the chief executive officer now owns 84,472 shares of the company’s stock, valued at $5,059,872.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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

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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