Analysts Set Rexford Industrial Realty, Inc. (NYSE:REXR) PT at $51.09

Rexford Industrial Realty, Inc. (NYSE:REXR) has earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $51.09.

Several equities research analysts recently issued reports on the company. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st.

Rexford Industrial Realty Stock Down 0.4 %

Shares of NYSE:REXR opened at $37.97 on Friday. The firm has a 50 day simple moving average of $42.80 and a 200 day simple moving average of $46.45. Rexford Industrial Realty has a 52 week low of $37.86 and a 52 week high of $57.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $8.44 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share. As a group, research analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Rexford Industrial Realty by 338.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after acquiring an additional 1,489,876 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Rexford Industrial Realty by 41.9% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after purchasing an additional 938,177 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Rexford Industrial Realty by 52.5% in the second quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock valued at $53,990,000 after purchasing an additional 417,037 shares during the period. Finally, Brookfield Corp ON acquired a new stake in shares of Rexford Industrial Realty in the third quarter worth $13,838,000. 99.52% of the stock is currently 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.