Zacks Investment Research upgraded shares of Rexford Industrial Realty Inc (NASDAQ:REXR) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $25.00 target price on the 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. “

A number of other brokerages also recently issued reports on REXR. National Securities restated a hold rating and set a $22.00 price objective (up from $20.00) on shares of Rexford Industrial Realty in a research report on Thursday, August 4th. DA Davidson upped their price objective on Rexford Industrial Realty from $22.06 to $27.00 and gave the company a buy rating in a research report on Friday, August 26th. Finally, Jefferies Group restated a buy rating on shares of Rexford Industrial Realty in a research report on Thursday, August 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Rexford Industrial Realty presently has an average rating of Buy and an average price target of $24.00.

Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 22.09 on Friday. The firm has a 50 day moving average price of $21.47 and a 200 day moving average price of $21.52. Rexford Industrial Realty has a 12-month low of $15.14 and a 12-month high of $23.38. The stock has a market cap of $1.45 billion and a PE ratio of 78.61.

Rexford Industrial Realty (NASDAQ:REXR) last posted its earnings results on Wednesday, November 2nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm earned $32.94 million during the quarter, compared to analysts’ expectations of $27.68 million. Rexford Industrial Realty’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share. On average, equities analysts expect that Rexford Industrial Realty will post $0.87 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.54 annualized dividend and a dividend yield of 2.44%.

Several large investors have recently modified their holdings of REXR. Thrivent Financial for Lutherans increased its stake in shares of Rexford Industrial Realty by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 28,700 shares of the company’s stock valued at $605,000 after buying an additional 900 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Rexford Industrial Realty by 0.7% in the third quarter. California Public Employees Retirement System now owns 134,800 shares of the company’s stock valued at $3,086,000 after buying an additional 900 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Rexford Industrial Realty by 1.1% in the third quarter. Nationwide Fund Advisors now owns 87,991 shares of the company’s stock valued at $2,014,000 after buying an additional 928 shares during the last quarter. RMR Advisors LLC increased its stake in shares of Rexford Industrial Realty by 5.0% in the second quarter. RMR Advisors LLC now owns 21,000 shares of the company’s stock valued at $443,000 after buying an additional 1,000 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Rexford Industrial Realty by 10.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,266 shares of the company’s stock valued at $258,000 after buying an additional 1,025 shares during the last quarter.

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. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.

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