Zacks Investment Research upgraded shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $33.00 price target on the real estate investment trust’s stock.
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. “
Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from a neutral rating to an underweight rating and set a $29.00 target price on the stock. in a report on Friday, December 15th. National Securities restated a buy rating and issued a $34.00 target price on shares of Rexford Industrial Realty in a report on Monday, November 27th. B. Riley restated a neutral rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. BidaskClub upgraded shares of Rexford Industrial Realty from a hold rating to a buy rating in a report on Saturday, November 4th. Finally, Citigroup raised their target price on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the stock a neutral rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $30.78.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The company had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $41.77 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. analysts predict that Rexford Industrial Realty will post 0.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 28th. Rexford Industrial Realty’s dividend payout ratio is presently 134.89%.
Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter worth $1,105,000. Honeywell International Inc. boosted its stake in shares of Rexford Industrial Realty by 7.5% during the 3rd quarter. Honeywell International Inc. now owns 53,579 shares of the real estate investment trust’s stock worth $1,533,000 after acquiring an additional 3,739 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Rexford Industrial Realty by 7.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 126,770 shares of the real estate investment trust’s stock worth $3,479,000 after acquiring an additional 9,221 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter worth $931,000. Finally, BlackRock Inc. boosted its stake in shares of Rexford Industrial Realty by 0.6% during the 2nd quarter. BlackRock Inc. now owns 5,869,600 shares of the real estate investment trust’s stock worth $161,061,000 after acquiring an additional 37,038 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.
WARNING: This story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.com-unik.info/2018/01/07/rexford-industrial-realty-rexr-upgraded-at-zacks-investment-research.html.
Rexford Industrial Realty Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.