Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $40.00

Rexford Industrial Realty (NYSE:REXR) had its price objective boosted by Mizuho from $37.00 to $40.00 in a report issued on Monday,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI downgraded shares of Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Scotiabank increased their price objective on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 4th. Industrial Alliance Securities set a $44.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, September 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.55.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $42.73 on Monday. Rexford Industrial Realty has a 52 week low of $29.68 and a 52 week high of $52.37. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 4.74 and a beta of 1.13. The firm’s 50-day simple moving average is $38.41 and its 200 day simple moving average is $37.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same period last year, the firm earned $0.60 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, sell-side analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. Rexford Industrial Realty’s payout ratio is 127.41%.

Insider Buying and Selling

In other news, General Counsel David E. Lanzer sold 26,449 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Rexford Industrial Realty

Several institutional investors have recently made changes to their positions in REXR. Teacher Retirement System of Texas boosted its position in Rexford Industrial Realty by 198.3% during the first quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust’s stock worth $1,528,000 after purchasing an additional 25,945 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 978 shares in the last quarter. M&T Bank Corp raised its position in shares of Rexford Industrial Realty by 1.2% in the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust’s stock worth $1,052,000 after purchasing an additional 317 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Rexford Industrial Realty by 40.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust’s stock worth $1,440,000 after buying an additional 10,603 shares during the last quarter. Institutional investors 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.