Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $51.09 Average PT from Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given an average rating of “Hold” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $50.27.

A number of equities research analysts have recently issued reports on the stock. Mizuho dropped their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays cut their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial lowered their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of REXR. Reinhart Partners LLC. grew its stake in shares of Rexford Industrial Realty by 1.6% in the fourth quarter. Reinhart Partners LLC. now owns 282,598 shares of the real estate investment trust’s stock valued at $10,925,000 after buying an additional 4,518 shares in the last quarter. Fulton Bank N.A. grew its position in Rexford Industrial Realty by 14.9% in the 4th quarter. Fulton Bank N.A. now owns 5,791 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 753 shares in the last quarter. Nordea Investment Management AB acquired a new position in Rexford Industrial Realty in the 4th quarter valued at about $8,008,000. Everence Capital Management Inc. purchased a new stake in Rexford Industrial Realty during the fourth quarter worth about $291,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 3.0 %

Shares of Rexford Industrial Realty stock opened at $38.29 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a twelve month low of $36.92 and a twelve month high of $56.14. The firm has a market capitalization of $8.52 billion, a PE ratio of 31.13, a P/E/G ratio of 1.94 and a beta of 0.95. The firm’s 50-day moving average price is $40.56 and its 200 day moving average price is $45.76.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter last year, the business earned $0.56 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued 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 4.36%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

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.