Rexford Industrial Realty, Inc. (NYSE:REXR) Receives Average Recommendation of “Hold” from Analysts

Rexford Industrial Realty, Inc. (NYSE:REXR) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $52.50.

REXR has been the subject of several research analyst reports. Scotiabank lifted their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Mizuho decreased their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company reduced their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price 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.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly 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 through the SEC website. In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard Schwimmer sold 30,358 shares of the company’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 transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently made changes to their positions in REXR. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 acquiring an additional 349 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty in the second quarter worth $26,000. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty during the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 136.6% during the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $50.51 on Friday. The stock has a market cap of $11.09 billion, a P/E ratio of 46.34, a P/E/G ratio of 2.13 and a beta of 0.93. The business’s fifty day moving average is $50.32 and its 200 day moving average is $47.66. The company has a quick ratio of 1.73, a current ratio of 1.73 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 posted its quarterly earnings data 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). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Rexford Industrial Realty’s revenue was up 21.3% compared to the same quarter last year. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm 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 dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

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.