Rexford Industrial Realty, Inc. (NYSE:REXR) Given Consensus Recommendation of “Hold” by Brokerages

Rexford Industrial Realty, Inc. (NYSE:REXR) has been given a consensus recommendation of “Hold” by the ten research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $52.50.

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Truist Financial lifted their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price target on Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Mizuho dropped their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Scotiabank increased their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.

Rexford Industrial Realty Trading Down 0.1 %

NYSE REXR opened at $50.51 on Friday. The firm’s fifty day moving average is $50.32 and its two-hundred day moving average is $47.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $11.09 billion, a PE ratio of 46.34, a P/E/G ratio of 2.13 and a beta of 0.93. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $227.70 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. Analysts expect that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business 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 of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV grew its position in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at $41,000. EverSource Wealth Advisors LLC grew its holdings in Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 864 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

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.