Analysts Set Rexford Industrial Realty, Inc. (NYSE:REXR) PT at $53.64

Rexford Industrial Realty, Inc. (NYSE:REXR) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $53.36.

A number of analysts recently issued reports on REXR shares. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Mizuho restated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Truist Financial dropped their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays raised their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. Finally, Wedbush assumed coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock.

Rexford Industrial Realty Stock Performance

REXR stock opened at $44.40 on Thursday. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The firm has a market cap of $9.67 billion, a PE ratio of 40.73, a P/E/G ratio of 1.90 and a beta of 0.89. The business has a 50 day moving average of $48.38 and a 200-day moving average of $50.23. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. As a group, sell-side analysts expect that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s payout ratio is presently 153.21%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently modified their holdings of REXR. Los Angeles Capital Management LLC raised its position in shares of Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 210 shares in the last quarter. Lindbrook Capital LLC raised its position in Rexford Industrial Realty by 4.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 259 shares in the last quarter. Securian Asset Management Inc. lifted its stake in Rexford Industrial Realty by 1.9% during the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 330 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Rexford Industrial Realty by 1.5% in the 3rd quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after purchasing an additional 359 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Rexford Industrial Realty by 0.7% during the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.