Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $41.00

Rexford Industrial Realty (NYSE:REXR) had its price target hoisted by BNP Paribas Exane from $38.00 to $41.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on REXR. Scotiabank raised their target price on shares of Rexford Industrial Realty from $38.00 to $40.00 and gave the company a “sector outperform” rating in a report on Monday, August 31st. Wall Street Zen raised shares of Rexford Industrial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, September 19th. BMO Capital Markets upped their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Jefferies Financial Group lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Thursday, August 6th. Finally, Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.67.

Rexford Industrial Realty Trading Down 3.0%

Shares of REXR stock opened at $37.12 on Monday. Rexford Industrial Realty has a fifty-two week low of $32.14 and a fifty-two week high of $42.41. The stock has a market cap of $8.28 billion, a P/E ratio of -17.59 and a beta of 1.18. The business has a fifty day simple moving average of $37.37 and a 200-day simple moving average of $36.48. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The firm had revenue of $239.10 million for the quarter, compared to analyst estimates of $232.95 million. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Rexford Industrial Realty will post 2.42 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.4350 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, December 31st. Rexford Industrial Realty’s payout ratio is -82.46%.

Institutional Trading of Rexford Industrial Realty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elevation Wealth Partners LLC boosted its stake in shares of Rexford Industrial Realty by 125.8% during the third quarter. Elevation Wealth Partners LLC now owns 700 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 390 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Rexford Industrial Realty during the 1st quarter worth about $33,000. Allworth Financial LP acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at about $33,000. Root Financial Partners LLC acquired a new position in Rexford Industrial Realty in the 3rd quarter valued at about $35,000. Finally, Caitlin John LLC acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at about $36,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.