Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $51.09 Average Target Price from Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $50.73.

Several research analysts recently commented on the company. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective 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 report on Friday, October 18th. Mizuho lowered their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Rexford Industrial Realty Stock Down 0.7 %

Shares of NYSE:REXR opened at $38.22 on Tuesday. The firm’s 50-day moving average is $40.86 and its two-hundred day moving average is $45.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty has a 1 year low of $37.67 and a 1 year high of $56.87. The firm has a market capitalization of $8.50 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last released its 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). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

Institutional Trading of Rexford Industrial Realty

A number of large investors have recently made changes to their positions in REXR. JPMorgan Chase & Co. increased its stake in Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after purchasing an additional 954,202 shares during the period. Geode Capital Management LLC increased its position in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after acquiring an additional 74,865 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Rexford Industrial Realty by 14.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after acquiring an additional 431,659 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Rexford Industrial Realty by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after acquiring an additional 200,027 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after purchasing an additional 938,177 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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.