Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $52.50 Consensus Target Price from Brokerages

Rexford Industrial Realty, Inc. (NYSE:REXR) has been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $52.50.

REXR has been the subject of a number of research analyst reports. Mizuho decreased their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Evercore ISI lifted their target price on Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Truist Financial upped their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors have recently made changes to their positions in REXR. Capital International Investors raised its stake in Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after buying an additional 17,103,653 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $1,002,654,000 after acquiring an additional 4,197,907 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 purchasing an additional 1,620,378 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 worth $1,625,882,000 after purchasing an additional 1,235,894 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Rexford Industrial Realty by 38.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Down 0.8 %

Shares of REXR opened at $48.40 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $50.34 and a 200 day moving average of $47.54. The company has a market cap of $10.62 billion, a PE ratio of 44.40, a P/E/G ratio of 2.00 and a beta of 0.93. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results 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 firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. During the same quarter last year, the business posted $0.54 EPS. Rexford Industrial Realty’s revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts expect that Rexford Industrial Realty will post 2.35 EPS 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 paid a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a yield of 3.45%. Rexford Industrial Realty’s payout ratio is 153.21%.

Rexford Industrial Realty Company Profile

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.