Rexford Industrial Realty (NYSE:REXR) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Rexford Industrial Realty (NYSE:REXR) from a hold rating to a sell rating in a report issued on Saturday.

A number of other equities research analysts also recently issued reports on REXR. Scotiabank increased their target price on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rexford Industrial Realty in a research report on Wednesday, October 8th. Mizuho increased their target price on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, September 8th. Barclays increased their target price on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, September 15th. Finally, Industrial Alliance Securities set a $40.00 target price on shares of Rexford Industrial Realty in a research report on Monday, September 15th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.36.

Rexford Industrial Realty Stock Up 1.1%

Shares of NYSE:REXR opened at $44.26 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 2.95. The company has a market cap of $10.48 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.13. Rexford Industrial Realty has a 52 week low of $29.68 and a 52 week high of $45.41. The firm has a 50 day simple moving average of $41.28 and a 200 day simple moving average of $37.44.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The business had revenue of $246.76 million during the quarter, compared to the consensus estimate of $253.46 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, research analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.43 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.72 dividend on an annualized basis and a yield of 3.9%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 121.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of REXR. Massachusetts Financial Services Co. MA grew its stake in Rexford Industrial Realty by 130.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust’s stock valued at $303,488,000 after buying an additional 4,384,624 shares during the last quarter. Nuveen LLC acquired a new position in Rexford Industrial Realty in the 1st quarter valued at $146,155,000. Soroban Capital Partners LP grew its stake in Rexford Industrial Realty by 57.2% in the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock valued at $326,925,000 after buying an additional 3,344,677 shares during the last quarter. Norges Bank acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at $104,116,000. Finally, Royal London Asset Management Ltd. acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at $91,671,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.