Rexford Industrial Realty (REXR) to Release Earnings on Wednesday

Rexford Industrial Realty (NYSE:REXR) is set to release its earnings data after the market closes on Wednesday, April 17th. Analysts expect Rexford Industrial Realty to post earnings of $0.56 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Rexford Industrial Realty Trading Down 3.4 %

NYSE REXR opened at $45.07 on Tuesday. The company has a fifty day simple moving average of $50.97 and a two-hundred day simple moving average of $50.77. The stock has a market cap of $9.69 billion, a P/E ratio of 40.24, a P/E/G ratio of 2.14 and a beta of 0.86. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 149.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Robert W. Baird reissued a “neutral” rating and issued a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Barclays began coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 target price on the stock. Mizuho reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of REXR. Norges Bank acquired a new stake in Rexford Industrial Realty during the 4th quarter worth about $283,319,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Rexford Industrial Realty by 64.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock valued at $570,016,000 after purchasing an additional 4,107,405 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rexford Industrial Realty by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after purchasing an additional 1,587,612 shares during the period. State Street Corp increased its holdings in shares of 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 period. Finally, Deutsche Bank AG increased its holdings in shares of Rexford Industrial Realty by 61.0% in the 1st quarter. Deutsche Bank AG now owns 2,573,212 shares of the real estate investment trust’s stock valued at $153,492,000 after purchasing an additional 974,709 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.