Rexford Industrial Realty (NYSE:REXR) PT Raised to $54.00

Rexford Industrial Realty (NYSE:REXR) had its target price increased by Truist Financial from $50.00 to $54.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on REXR. Mizuho decreased their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a neutral rating on the stock in a research note on Friday, May 31st. StockNews.com upgraded Rexford Industrial Realty from a sell rating to a hold rating in a research note on Monday, July 22nd. Scotiabank decreased their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a sector outperform rating on the stock in a research note on Thursday, May 16th. Evercore ISI assumed coverage on Rexford Industrial Realty in a research note on Wednesday, July 10th. They set an outperform rating and a $54.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a neutral rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty has an average rating of Hold and a consensus target price of $52.70.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $49.17 on Tuesday. The firm has a market cap of $10.79 billion, a PE ratio of 45.11, a PEG ratio of 2.07 and a beta of 0.92. The stock’s fifty day moving average price is $46.29 and its two-hundred day moving average price is $48.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Rexford Industrial Realty will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company 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 is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Transactions at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at approximately $2,475,882.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV raised 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 valued at $25,000 after purchasing an additional 349 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Rexford Industrial Realty during the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC bought a new position in Rexford Industrial Realty during the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised 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 valued at $47,000 after purchasing an additional 864 shares during the last quarter. Finally, Advisors Asset Management Inc. raised 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 valued at $55,000 after purchasing an additional 627 shares during the last quarter. Institutional investors 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.