Analysts Set Rexford Industrial Realty, Inc. (NYSE:REXR) Price Target at $51.09

Rexford Industrial Realty, Inc. (NYSE:REXR) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $50.73.

A number of equities research analysts have commented on the company. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Mizuho lowered their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th.

Rexford Industrial Realty Trading Down 0.7 %

Shares of Rexford Industrial Realty stock opened at $38.22 on Tuesday. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty has a 52-week low of $37.67 and a 52-week high of $56.87. The company’s 50-day simple moving average is $40.86 and its 200-day simple moving average is $45.88. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

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). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, equities research analysts anticipate that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 4.37%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after buying an additional 1,489,876 shares during the period. JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Rexford Industrial Realty by 41.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after purchasing an additional 938,177 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Rexford Industrial Realty by 52.5% in the second quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock valued at $53,990,000 after purchasing an additional 417,037 shares during the period. 99.52% of the stock is 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.