Rexford Industrial Realty, Inc. (NYSE:REXR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $54.00.

REXR has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of 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. upped their price objective 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. Mizuho decreased their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday. Evercore ISI upped their price target on shares of Rexford Industrial Realty from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Finally, Truist Financial lifted 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 report on Tuesday, July 30th.

Insider Transactions at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in Rexford Industrial Realty by 116.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock valued at $2,589,000 after buying an additional 24,793 shares during the period. M&G Plc acquired a new position in Rexford Industrial Realty during the first quarter valued at approximately $33,644,000. First Financial Bank Trust Division bought a new stake in Rexford Industrial Realty during the first quarter worth $2,551,000. GSI Capital Advisors LLC boosted its holdings in shares of Rexford Industrial Realty by 45.0% in the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after purchasing an additional 59,320 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Rexford Industrial Realty in the 1st quarter valued at $1,671,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 1.6 %

REXR opened at $49.35 on Wednesday. The stock has a market capitalization of $10.75 billion, a P/E ratio of 45.28, a P/E/G ratio of 2.07 and a beta of 0.93. 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 has a 12 month low of $41.56 and a 12 month high of $58.02. The firm’s fifty day simple moving average is $49.21 and its 200 day simple moving average is $47.74.

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

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a yield of 3.38%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 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.