Brokerages Set Rexford Industrial Realty, Inc. (NYSE:REXR) Price Target at $53.64

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned an average rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $53.36.

A number of analysts recently weighed in on REXR shares. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Wednesday, February 7th. Barclays raised their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Mizuho reissued a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty in the fourth quarter worth about $41,000. Fifth Third Bancorp grew its position in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the period. Quarry LP grew its position in shares of Rexford Industrial Realty by 195.8% during the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 740 shares during the period. Principal Securities Inc. bought a new stake in shares of Rexford Industrial Realty during the fourth quarter worth approximately $96,000. Finally, Ninepoint Partners LP acquired a new position in Rexford Industrial Realty in the third quarter valued at approximately $108,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Down 0.4 %

Shares of REXR opened at $44.92 on Thursday. The company has a 50-day simple moving average of $48.01 and a 200-day simple moving average of $50.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02. The firm has a market capitalization of $9.78 billion, a P/E ratio of 41.21, a P/E/G ratio of 1.94 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities research analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.71%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

About Rexford Industrial Realty

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.