Brokerages Set Rexford Industrial Realty, Inc. (NYSE:REXR) PT at $40.00

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have recently commented on the company. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a report on Tuesday, March 25th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Barclays reduced their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, May 19th.

Rexford Industrial Realty Trading Up 0.7%

Shares of REXR opened at $36.92 on Friday. Rexford Industrial Realty has a 52-week low of $29.68 and a 52-week high of $52.61. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $34.26 and its two-hundred day moving average is $37.93. The stock has a market cap of $8.74 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The company had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. Research analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 annualized dividend and a yield of 4.66%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 138.71%.

Institutional Trading of Rexford Industrial Realty

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. increased its stake in Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA increased its stake in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Rexford Industrial Realty during the fourth quarter worth about $33,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.