Rexford Industrial Realty (NYSE:REXR) Downgraded to Sell at StockNews.com

StockNews.com cut 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 research analysts have also commented on the company. Truist Financial upped their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company decreased their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Scotiabank upped their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $49.00 in a research note on Monday. Finally, Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.09.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $44.71 on Monday. The firm has a market capitalization of $9.81 billion, a PE ratio of 36.35, a PEG ratio of 1.89 and a beta of 0.93. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a current ratio of 1.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $49.81 and its 200 day simple moving average is $47.30.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Rexford Industrial Realty will post 2.35 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.74%. Rexford Industrial Realty’s payout ratio is presently 135.77%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the period. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty during the 2nd quarter valued at about $26,000. UMB Bank n.a. boosted its stake in shares of Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the last quarter. Institutional investors 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.