Brokerages Set Rexford Industrial Realty, Inc. (NYSE:REXR) Price Target at $51.09

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned an average rating of “Hold” from the ten analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $51.09.

A number of analysts have issued reports on the company. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Wells Fargo & Company reduced 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. Finally, Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research report on Friday, October 18th.

Rexford Industrial Realty Stock Up 1.4 %

REXR stock opened at $40.87 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $43.44 and a two-hundred day moving average of $46.64. Rexford Industrial Realty has a 12 month low of $39.85 and a 12 month high of $58.02. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.94 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter last year, the company earned $0.56 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.09%. Rexford Industrial Realty’s payout ratio is presently 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently modified their holdings of the company. Oddo BHF Asset Management Sas acquired a new position in Rexford Industrial Realty in the 3rd quarter valued at about $10,925,000. Franklin Resources Inc. boosted its stake in shares of Rexford Industrial Realty by 1.1% in the third quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust’s stock valued at $38,924,000 after purchasing an additional 9,200 shares during the period. Tidal Investments LLC grew its holdings in shares of Rexford Industrial Realty by 22.5% in the third quarter. Tidal Investments LLC now owns 171,433 shares of the real estate investment trust’s stock valued at $8,625,000 after purchasing an additional 31,528 shares in the last quarter. Geode Capital Management LLC increased its stake in Rexford Industrial Realty by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after buying an additional 74,865 shares during the period. Finally, Vestcor Inc acquired a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $3,953,000. Hedge funds and other 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.