Rexford Industrial Realty Inc (NYSE:REXR) Receives $44.25 Average Price Target from Brokerages

Rexford Industrial Realty Inc (NYSE:REXR) has received an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $44.25.

A number of research firms have issued reports on REXR. Citigroup lifted their price objective on shares of Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. ValuEngine downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rexford Industrial Realty from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd.

In related news, CFO Adeel Khan sold 49,721 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $46.01, for a total value of $2,287,663.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Frankel sold 35,463 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $47.97, for a total transaction of $1,701,160.11. Following the completion of the transaction, the chief executive officer now directly owns 71,834 shares in the company, valued at $3,445,876.98. The disclosure for this sale can be found here. Insiders sold a total of 97,720 shares of company stock worth $4,583,782 over the last three months. 1.70% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,905,784 shares of the real estate investment trust’s stock worth $601,746,000 after buying an additional 929,535 shares during the last quarter. BlackRock Inc. raised its stake in Rexford Industrial Realty by 3.3% in the 2nd quarter. BlackRock Inc. now owns 11,239,128 shares of the real estate investment trust’s stock valued at $453,726,000 after acquiring an additional 357,979 shares during the period. Nuveen Asset Management LLC raised its stake in Rexford Industrial Realty by 1,220.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,183,483 shares of the real estate investment trust’s stock valued at $249,626,000 after acquiring an additional 5,715,137 shares during the period. State Street Corp raised its stake in Rexford Industrial Realty by 7.6% in the 3rd quarter. State Street Corp now owns 4,882,728 shares of the real estate investment trust’s stock valued at $215,825,000 after acquiring an additional 344,717 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 8,836.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,593,894 shares of the real estate investment trust’s stock valued at $145,086,000 after acquiring an additional 3,553,677 shares during the period. 99.50% of the stock is currently owned by institutional investors.

REXR traded down $0.69 during mid-day trading on Friday, reaching $45.50. 770,900 shares of the stock were exchanged, compared to its average volume of 704,647. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.82 and a current ratio of 5.82. The stock has a market capitalization of $5.20 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 5.46 and a beta of 0.77. The company has a 50 day moving average price of $47.00 and a two-hundred day moving average price of $43.46. Rexford Industrial Realty has a 1 year low of $28.17 and a 1 year high of $48.80.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $68.06 million for the quarter, compared to the consensus estimate of $67.50 million. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. Sell-side analysts expect that Rexford Industrial Realty will post 1.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, December 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.07%.

Rexford Industrial Realty Company Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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