Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $52.50 Consensus Price Target from Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.50.

REXR has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. 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 research report on Tuesday, July 30th. Evercore ISI lifted their price objective on Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Scotiabank raised their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $49.45 on Friday. The company’s fifty day moving average price is $50.33 and its 200-day moving average price is $47.58. The stock has a market cap of $10.77 billion, a PE ratio of 45.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. 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 issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities analysts expect that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.4175 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Rexford Industrial Realty

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Rexford Industrial Realty by 63.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,797 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 4,954 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Rexford Industrial Realty by 15.3% during the 4th quarter. Wells Fargo & Company MN now owns 167,590 shares of the real estate investment trust’s stock worth $9,402,000 after purchasing an additional 22,293 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Rexford Industrial Realty by 3.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,363 shares of the real estate investment trust’s stock worth $5,238,000 after purchasing an additional 2,950 shares in the last quarter. Presima Securities ULC raised its stake in Rexford Industrial Realty by 12.7% in the fourth quarter. Presima Securities ULC now owns 404,990 shares of the real estate investment trust’s stock valued at $22,720,000 after buying an additional 45,590 shares in the last quarter. Finally, APG Asset Management US Inc. purchased a new stake in Rexford Industrial Realty during the 4th quarter worth about $10,515,000. Institutional investors and hedge funds 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.