Brokerages Set Rexford Industrial Realty, Inc. (NYSE:REXR) PT at $54.09

Rexford Industrial Realty, Inc. (NYSE:REXR) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $54.00.

A number of equities research analysts have weighed in on REXR shares. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday. Scotiabank raised their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Truist Financial raised their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, 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 transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors boosted its holdings in Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares during the period. Price T Rowe Associates Inc. MD grew its position in Rexford Industrial Realty by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after buying an additional 4,197,907 shares in the last quarter. Norges Bank bought a new position in Rexford Industrial Realty during the fourth quarter valued at about $157,685,000. Canada Pension Plan Investment Board raised its holdings in Rexford Industrial Realty by 262.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock valued at $112,536,000 after acquiring an additional 1,620,378 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Rexford Industrial Realty by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after acquiring an additional 1,235,894 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Stock Down 1.7 %

Rexford Industrial Realty stock opened at $49.34 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The company has a 50-day simple moving average of $49.12 and a 200-day simple moving average of $47.80. The firm has a market capitalization of $10.83 billion, a P/E ratio of 45.27, a P/E/G ratio of 2.09 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts expect that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

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

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.