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

Rexford Industrial Realty, Inc. (NYSE:REXR) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $51.09.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut 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 report on Wednesday, August 28th. Mizuho cut their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial cut their price target 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. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th.

Insiders Place Their Bets

In related news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of 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. Vestcor Inc bought a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth $3,953,000. M&T Bank Corp boosted its holdings in shares of Rexford Industrial Realty by 1.5% during the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after buying an additional 442 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Rexford Industrial Realty by 0.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 282,401 shares of the real estate investment trust’s stock worth $14,208,000 after buying an additional 2,592 shares during the period. Finally, Anson Funds Management LP boosted its holdings in Rexford Industrial Realty by 11.0% in the 3rd quarter. Anson Funds Management LP now owns 55,206 shares of the real estate investment trust’s stock valued at $2,777,000 after purchasing an additional 5,473 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Up 0.3 %

REXR stock opened at $42.08 on Monday. Rexford Industrial Realty has a 12 month low of $41.16 and a 12 month high of $58.02. The firm has a market cap of $9.36 billion, a PE ratio of 34.21, a P/E/G ratio of 1.99 and a beta of 0.94. The firm has a 50 day simple moving average of $46.16 and a 200 day simple moving average of $47.00. 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 (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate 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 business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is 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.