Rexford Industrial Realty (NYSE:REXR) PT Raised to $52.00

Rexford Industrial Realty (NYSE:REXR) had its price objective lifted by JPMorgan Chase & Co. from $47.00 to $52.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the company. Robert W. Baird dropped their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Barclays boosted their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an underweight rating in a report on Tuesday, April 23rd. Wedbush began coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a neutral rating and a $45.00 price objective for the company. Truist Financial dropped their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a buy rating for the company in a report on Thursday, May 2nd. Finally, StockNews.com raised Rexford Industrial Realty from a sell rating to a hold rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $52.30.

Rexford Industrial Realty Trading Up 1.8 %

Shares of REXR stock opened at $49.05 on Thursday. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The firm’s fifty day simple moving average is $45.82 and its 200 day simple moving average is $48.40. The firm has a market capitalization of $10.77 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. 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 (NYSE:REXR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. As a group, sell-side analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.40%. The ex-dividend date 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 is presently 153.21%.

Insider Activity

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

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its position in Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 349 shares during the period. V Square Quantitative Management LLC bought a new position in Rexford Industrial Realty during the 2nd quarter worth $26,000. GAMMA Investing LLC bought a new position in Rexford Industrial Realty during the 4th quarter worth $41,000. EverSource Wealth Advisors LLC increased its position in Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Rexford Industrial Realty by 136.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 627 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.