Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $52.09 Average Price Target from Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have received a consensus rating of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $51.45.

Several brokerages recently issued reports on REXR. Truist Financial boosted their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a report on Friday, October 18th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th.

Insider Transactions at Rexford Industrial Realty

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 stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently made changes to their positions in the business. First Trust Direct Indexing L.P. bought a new position in shares of Rexford Industrial Realty during the third quarter valued at approximately $228,000. Highline Wealth Partners LLC acquired a new position in shares of Rexford Industrial Realty during the third quarter worth $177,000. abrdn plc lifted its holdings in shares of Rexford Industrial Realty by 9.2% during 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 acquired a new stake in shares of Rexford Industrial Realty in the 3rd quarter worth $2,215,000. Finally, State of Alaska Department of Revenue grew 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 buying an additional 2,421 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 2.8 %

REXR opened at $43.35 on Thursday. The stock 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. The firm has a 50 day moving average price of $49.36 and a 200-day moving average price of $47.18. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. Equities research analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.85%. 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.