Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $40.00 Average Price Target from Analysts

Rexford Industrial Realty, Inc. (NYSE:REXR) has been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $40.00.

REXR has been the subject of a number of recent analyst reports. Scotiabank cut their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company cut their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Evercore ISI cut their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Finally, Truist Financial cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 1st.

Rexford Industrial Realty Stock Performance

REXR opened at $37.11 on Friday. The business has a fifty day simple moving average of $34.15 and a 200 day simple moving average of $37.98. The company has a market capitalization of $8.78 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to the consensus estimate of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Research analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 annualized dividend and a yield of 4.63%. Rexford Industrial Realty’s dividend payout ratio is presently 138.71%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in REXR. JPMorgan Chase & Co. increased its stake in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after buying an additional 954,202 shares during the period. abrdn plc increased its stake in shares of Rexford Industrial Realty by 32.3% in the fourth quarter. abrdn plc now owns 56,650 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 13,816 shares during the period. Retirement Systems of Alabama increased its stake in shares of Rexford Industrial Realty by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 588,518 shares of the real estate investment trust’s stock valued at $22,752,000 after buying an additional 3,817 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Rexford Industrial Realty by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 131,519 shares of the real estate investment trust’s stock valued at $5,083,000 after buying an additional 1,210 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Rexford Industrial Realty by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,682 shares of the real estate investment trust’s stock valued at $9,305,000 after buying an additional 2,129 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.