Rexford Industrial Realty (NYSE:REXR) Price Target Increased to $55.00 by Analysts at Scotiabank

Rexford Industrial Realty (NYSE:REXR) had its price objective boosted by Scotiabank from $51.00 to $55.00 in a research note released on Monday, Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the stock. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a neutral rating for the company in a research note on Friday, May 31st. Robert W. Baird dropped their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a neutral rating in a research note on Thursday, July 25th. Finally, Evercore ISI initiated coverage on shares of Rexford Industrial Realty in a research note on Wednesday, July 10th. They issued an outperform rating and a $54.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rexford Industrial Realty has an average rating of Hold and an average price target of $54.09.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $50.16 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 2.06 and a beta of 0.92. The firm’s 50 day simple moving average is $48.50 and its 200 day simple moving average is $47.86. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 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 the consensus estimate of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, research analysts expect that Rexford Industrial Realty will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Insider Buying and Selling

In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its holdings in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 210 shares during the period. Securian Asset Management Inc. grew its holdings in Rexford Industrial Realty by 1.9% in the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 330 shares during the period. Inspire Investing LLC grew its holdings in Rexford Industrial Realty by 4.9% in the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 337 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares during the period. Institutional investors own 99.52% of the company’s stock.

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.