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

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

REXR has been the topic of a number of analyst reports. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company dropped their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Mizuho dropped their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available at this link. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Rexford Industrial Realty by 116.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after acquiring an additional 24,793 shares in the last quarter. M&G Plc purchased a new position in shares of Rexford Industrial Realty in the 1st quarter valued at about $33,644,000. First Financial Bank Trust Division acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at about $2,551,000. Magnetar Financial LLC purchased a new stake in Rexford Industrial Realty during the first quarter worth about $1,671,000. Finally, Vanguard Group Inc. grew its position in Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 0.2 %

Shares of NYSE REXR opened at $48.81 on Friday. The stock has a market cap of $10.71 billion, a P/E ratio of 44.78, a PEG ratio of 2.07 and a beta of 0.93. The business’s fifty day simple moving average is $50.35 and its 200-day simple moving average is $47.58. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, equities analysts predict that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced 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 is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.42%. Rexford Industrial Realty’s dividend payout ratio (DPR) 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.