Rexford Industrial Realty (NYSE:REXR) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other equities research analysts also recently issued reports on REXR. JPMorgan Chase & Co. increased their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research report on Monday. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Scotiabank increased their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $52.09.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $45.09 on Monday. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The stock’s 50-day simple moving average is $49.61 and its 200 day simple moving average is $47.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.73 and a current ratio of 1.20. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Research analysts forecast that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.70%. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Activity

In related news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its stake in shares of Rexford Industrial Realty by 63.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,797 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 4,954 shares during the period. Los Angeles Capital Management LLC increased its position in Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 210 shares during the period. Hazelview Securities Inc. raised its holdings in Rexford Industrial Realty by 55.7% in the 1st quarter. Hazelview Securities Inc. now owns 384,915 shares of the real estate investment trust’s stock worth $18,799,000 after purchasing an additional 137,700 shares in the last quarter. Vert Asset Management LLC lifted its position in shares of Rexford Industrial Realty by 10.7% in the 1st quarter. Vert Asset Management LLC now owns 87,783 shares of the real estate investment trust’s stock worth $4,415,000 after purchasing an additional 8,519 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Rexford Industrial Realty by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,782 shares of the real estate investment trust’s stock valued at $2,605,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.