Rexford Industrial Realty Inc (REXR) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Rexford Industrial Realty Inc (NASDAQ:REXR) from a hold rating to a buy rating in a report released on Tuesday morning.

REXR has been the subject of a number of other reports. J P Morgan Chase & Co downgraded Rexford Industrial Realty from an overweight rating to a neutral rating and set a $29.00 price objective for the company. in a report on Tuesday, September 26th. Stifel Nicolaus restated a buy rating and set a $33.00 price objective (up from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, September 14th. Zacks Investment Research downgraded Rexford Industrial Realty from a buy rating to a hold rating in a report on Wednesday, August 30th. Jefferies Group LLC restated a buy rating and set a $34.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, September 26th. Finally, FBR & Co began coverage on Rexford Industrial Realty in a report on Tuesday, July 11th. They set a mkt perform rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $30.63.

Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 30.00 on Tuesday. The firm has a market capitalization of $2.12 billion and a PE ratio of 64.24. The stock has a 50 day moving average price of $29.57 and a 200-day moving average price of $27.26. Rexford Industrial Realty has a 52 week low of $20.05 and a 52 week high of $30.60.

Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $36.78 million during the quarter, compared to the consensus estimate of $36.75 million. Rexford Industrial Realty had a return on equity of 7.84% and a net margin of 53.98%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. Equities analysts anticipate that Rexford Industrial Realty will post $0.36 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.93%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in Rexford Industrial Realty by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,743 shares of the company’s stock valued at $103,000 after purchasing an additional 71 shares in the last quarter. Stifel Financial Corp increased its holdings in Rexford Industrial Realty by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 24,636 shares of the company’s stock valued at $675,000 after purchasing an additional 100 shares in the last quarter. GAM Holding AG increased its holdings in Rexford Industrial Realty by 7.5% in the 2nd quarter. GAM Holding AG now owns 5,712 shares of the company’s stock valued at $157,000 after purchasing an additional 400 shares in the last quarter. Advisor Group Inc. increased its holdings in Rexford Industrial Realty by 13.6% in the 2nd quarter. Advisor Group Inc. now owns 3,787 shares of the company’s stock valued at $103,000 after purchasing an additional 453 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rexford Industrial Realty by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,758 shares of the company’s stock valued at $131,000 after purchasing an additional 469 shares in the last quarter.

About Rexford Industrial Realty

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.

Analyst Recommendations for Rexford Industrial Realty (NASDAQ:REXR)

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