Analysts Set Rexford Industrial Realty Inc (NYSE:REXR) PT at $44.25

Rexford Industrial Realty Inc (NYSE:REXR) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $44.25.

A number of brokerages have commented on REXR. Zacks Investment Research cut shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Citigroup increased their price target on shares of Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. ValuEngine cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Rexford Industrial Realty from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd.

In other news, CEO Michael S. Frankel sold 12,536 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $47.46, for a total value of $594,958.56. Following the transaction, the chief executive officer now directly owns 71,834 shares of the company’s stock, valued at $3,409,241.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael S. Frankel sold 35,463 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 97,720 shares of company stock worth $4,583,782 over the last three months. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of REXR. First Trust Advisors LP increased its position in Rexford Industrial Realty by 419.1% during the first quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock worth $3,223,000 after acquiring an additional 72,663 shares during the period. Strs Ohio increased its position in Rexford Industrial Realty by 6.4% during the second quarter. Strs Ohio now owns 154,501 shares of the real estate investment trust’s stock worth $6,237,000 after acquiring an additional 9,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Rexford Industrial Realty by 101.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 121,125 shares of the real estate investment trust’s stock worth $4,890,000 after acquiring an additional 61,113 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Rexford Industrial Realty by 5.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,110 shares of the real estate investment trust’s stock worth $1,417,000 after acquiring an additional 1,730 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rexford Industrial Realty by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,027 shares of the real estate investment trust’s stock worth $1,051,000 after acquiring an additional 2,166 shares during the period. 99.50% of the stock is currently owned by institutional investors.

REXR stock traded down $0.69 during trading hours on Friday, reaching $45.50. The stock had a trading volume of 770,900 shares, compared to its average volume of 704,647. 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 debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 5.82. The stock has a 50-day simple moving average of $47.00 and a 200 day simple moving average of $43.46. Rexford Industrial Realty has a fifty-two week low of $28.17 and a fifty-two week high of $48.80.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $68.06 million during the quarter, compared to analysts’ expectations of $67.50 million. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. On average, sell-side analysts forecast that Rexford Industrial Realty will post 1.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, December 30th. Rexford Industrial Realty’s payout ratio is presently 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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