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

Rexford Industrial Realty, Inc. (NYSE:REXR) has received an average rating of “Hold” from the ten research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $51.09.

A number of brokerages have recently issued reports on REXR. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Truist Financial decreased their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in REXR. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter valued at about $26,000. UMB Bank n.a. lifted its position in shares of Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter worth approximately $41,000. CWM LLC boosted its stake in shares of Rexford Industrial Realty by 73.9% in the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 631 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Rexford Industrial Realty by 42.4% during the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $40.87 on Friday. The stock’s 50-day moving average is $43.44 and its 200 day moving average is $46.64. Rexford Industrial Realty has a 1-year low of $39.85 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $9.09 billion, a P/E ratio of 33.23, a PEG ratio of 1.94 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. Research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.09%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

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.