Rexford Industrial Realty (NYSE:REXR) Research Coverage Started at Wedbush

Wedbush began coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a research report released on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $45.00 target price on the real estate investment trust’s stock. Wedbush also issued estimates for Rexford Industrial Realty’s Q2 2024 earnings at $0.57 EPS, Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.32 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.65 EPS and FY2025 earnings at $2.54 EPS.

A number of other research analysts also recently issued reports on REXR. TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Barclays assumed coverage on Rexford Industrial Realty in a report on Wednesday, March 27th. They set an underweight rating and a $45.00 price target on the stock. Robert W. Baird reaffirmed a neutral rating and set a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Truist Financial cut their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of Hold and an average price target of $54.73.

Rexford Industrial Realty Stock Down 2.7 %

REXR opened at $42.54 on Monday. The company has a market cap of $9.27 billion, a P/E ratio of 39.03, a P/E/G ratio of 1.90 and a beta of 0.86. The business’s 50-day moving average price is $49.70 and its 200-day moving average price is $50.51. The company has a current ratio of 3.21, a quick ratio of 1.35 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.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts expect that Rexford Industrial Realty will post 2.33 EPS 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. Stockholders of record on Friday, June 28th will be given a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.92%. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Rexford Industrial Realty in the 4th quarter valued at approximately $41,000. Fifth Third Bancorp lifted its position in Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 411 shares in the last quarter. Quarry LP lifted its position in Rexford Industrial Realty by 195.8% in the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 740 shares in the last quarter. Principal Securities Inc. bought a new position in Rexford Industrial Realty in the 4th quarter valued at approximately $96,000. Finally, Ninepoint Partners LP bought a new position in Rexford Industrial Realty in the 3rd quarter valued at approximately $108,000. 99.52% of the stock is owned by institutional investors.

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.