Analysts Set Rexford Industrial Realty, Inc. (NYSE:REXR) Price Target at $52.44

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $52.44.

Several equities research analysts have recently weighed in on the company. Mizuho lowered their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Truist Financial lowered their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Scotiabank lowered their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Barclays upped their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. Finally, Wedbush started coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock.

Rexford Industrial Realty Trading Up 1.3 %

Rexford Industrial Realty stock opened at $44.44 on Friday. The business has a 50 day moving average price of $44.42 and a two-hundred day moving average price of $49.72. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. As a group, equities analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital International Investors lifted its stake in shares of 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 raised its stake in Rexford Industrial Realty by 26.7% during the 1st 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 during the period. Norges Bank acquired a new stake in Rexford Industrial Realty during the 4th quarter worth $157,685,000. Canada Pension Plan Investment Board raised its stake in Rexford Industrial Realty by 262.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock worth $112,536,000 after buying an additional 1,620,378 shares during the period. Finally, Vanguard Group Inc. raised its stake in Rexford Industrial Realty by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after buying an additional 1,235,894 shares during the period. Institutional investors and hedge funds 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.