Rexford Industrial Realty Inc (REXR) Receives $30.43 Consensus Price Target from Analysts

Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.43.

Several equities research analysts have commented on the company. BidaskClub upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday, August 31st. National Securities upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $32.00 in a research note on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of Rexford Industrial Realty in a research note on Thursday, August 24th. Finally, FBR & Co boosted their price objective on Rexford Industrial Realty from $26.00 to $27.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 8th.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Rexford Industrial Realty by 16.2% in the second quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock valued at $252,449,000 after purchasing an additional 1,282,548 shares in the last quarter. BlackRock Inc. grew its position in shares of Rexford Industrial Realty by 0.6% in the second quarter. BlackRock Inc. now owns 5,869,600 shares of the company’s stock valued at $161,061,000 after purchasing an additional 37,038 shares in the last quarter. AEW Capital Management L P grew its position in shares of Rexford Industrial Realty by 1.0% in the second quarter. AEW Capital Management L P now owns 4,078,857 shares of the company’s stock valued at $111,924,000 after purchasing an additional 41,557 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Rexford Industrial Realty by 6.7% in the first quarter. Wellington Management Group LLP now owns 2,630,219 shares of the company’s stock valued at $59,233,000 after purchasing an additional 164,973 shares in the last quarter. Finally, State Street Corp grew its position in shares of Rexford Industrial Realty by 1.2% in the second quarter. State Street Corp now owns 2,233,196 shares of the company’s stock valued at $61,276,000 after purchasing an additional 25,694 shares in the last quarter.

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Shares of Rexford Industrial Realty (REXR) traded down 0.66% during trading on Friday, reaching $30.21. The company had a trading volume of 476,821 shares. Rexford Industrial Realty has a 52 week low of $20.05 and a 52 week high of $30.60. The company has a market capitalization of $2.14 billion and a PE ratio of 64.69. The stock’s 50-day moving average price is $28.74 and its 200-day moving average price is $26.16.

Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Rexford Industrial Realty had a return on equity of 7.84% and a net margin of 53.98%. The company had revenue of $36.78 million during the quarter, compared to analyst estimates of $36.75 million. During the same period in the previous year, the business earned $0.22 EPS. Rexford Industrial Realty’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts expect that Rexford Industrial Realty will post $0.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.58 annualized dividend and a yield of 1.92%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

Analyst Recommendations for Rexford Industrial Realty (NASDAQ:REXR)

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