Analysts Set Rexford Industrial Realty, Inc. (NYSE:REXR) PT at $52.09

Rexford Industrial Realty, Inc. (NYSE:REXR) has earned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $51.45.

REXR has been the subject of several research analyst reports. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Mizuho decreased their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th.

Insider Transactions at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. purchased a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $228,000. Highline Wealth Partners LLC purchased a new stake in shares of Rexford Industrial Realty during the third quarter worth approximately $177,000. abrdn plc raised its stake in Rexford Industrial Realty by 9.2% in the 3rd quarter. abrdn plc now owns 42,834 shares of the real estate investment trust’s stock valued at $2,155,000 after purchasing an additional 3,602 shares during the last quarter. Graham Capital Wealth Management LLC purchased a new position in Rexford Industrial Realty in the 3rd quarter valued at $2,215,000. Finally, State of Alaska Department of Revenue boosted its stake in Rexford Industrial Realty by 1.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 130,309 shares of the real estate investment trust’s stock worth $6,554,000 after purchasing an additional 2,421 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Down 2.8 %

Shares of Rexford Industrial Realty stock opened at $43.35 on Thursday. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02. The firm’s 50 day simple moving average is $49.36 and its two-hundred day simple moving average is $47.18. The company has a current ratio of 1.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 2.13 and a beta of 0.93.

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 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 firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period in the previous year, the company earned $0.56 earnings per share. Rexford Industrial Realty’s revenue was up 17.7% on a year-over-year basis. Analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 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.