Rexford Industrial Realty (NYSE:REXR) Price Target Increased to $58.00 by Analysts at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) had its target price hoisted by Evercore ISI from $57.00 to $58.00 in a research note issued to investors on Monday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Rexford Industrial Realty from a sell rating to a hold rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on 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 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. Truist Financial upped their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Finally, Scotiabank raised their price target on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a sector outperform rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $54.09.

Rexford Industrial Realty Stock Up 1.3 %

Shares of NYSE REXR opened at $51.24 on Monday. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The firm has a 50-day simple moving average of $49.83 and a two-hundred day simple moving average of $47.67. The company has a market cap of $11.25 billion, a P/E ratio of 47.01, a PEG ratio of 2.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. Rexford Industrial Realty’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Research analysts anticipate that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.4175 per share. The ex-dividend date is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.26%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated 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 owns 50,673 shares in the company, valued at approximately $2,475,882.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Laura E. Clark sold 14,185 shares of the business’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 disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at approximately $947,000. Point72 Asset Management L.P. purchased a new position in Rexford Industrial Realty during the second quarter valued at $6,219,000. Creative Planning increased its stake in shares of Rexford Industrial Realty by 27.1% during the second quarter. Creative Planning now owns 17,913 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 3,824 shares in the last quarter. Long Pond Capital LP raised its position in shares of Rexford Industrial Realty by 2.3% during the 2nd quarter. Long Pond Capital LP now owns 1,053,505 shares of the real estate investment trust’s stock worth $46,976,000 after purchasing an additional 23,290 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Rexford Industrial Realty by 28.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 370,696 shares of the real estate investment trust’s stock valued at $16,529,000 after buying an additional 82,286 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.