Rexford Industrial Realty, Inc. (NYSE:REXR) Receives $56.00 Consensus Price Target from Brokerages

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $56.00.

REXR has been the subject of a number of research analyst reports. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Mizuho restated a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Barclays began coverage on Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Finally, Truist Financial cut their price objective on Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 15th.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Rexford Industrial Realty during the second quarter worth about $28,000. Quent Capital LLC grew its position in Rexford Industrial Realty by 594.4% during the third quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 636 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty during the fourth quarter worth about $41,000. Fifth Third Bancorp grew its position in Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its position in Rexford Industrial Realty by 112.7% during the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 623 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $49.36 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $51.49 and a 200-day simple moving average of $50.86. The company has a market cap of $10.62 billion, a PE ratio of 44.07, a P/E/G ratio of 2.23 and a beta of 0.86. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.51.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 149.11%.

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.