Rexford Industrial Realty, Inc. (NYSE:REXR) Given Consensus Recommendation of “Hold” by Analysts

by · The Cerbat Gem

Rexford Industrial Realty, Inc. (NYSE:REXR – Get Free Report) has earned an average recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $56.00.

Several equities analysts have weighed in on REXR shares. Robert W. Baird reiterated a “neutral” rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, February 7th. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Barclays started coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 target price on the stock.

Check Out Our Latest Analysis on REXR

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its stake in Rexford Industrial Realty by 139.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares during the period. Pacer Advisors Inc. increased its stake in Rexford Industrial Realty by 12.8% during the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after buying an additional 23,510 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Rexford Industrial Realty by 6.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock valued at $15,506,000 after purchasing an additional 19,981 shares during the last quarter. Citigroup Inc. increased its position in shares of Rexford Industrial Realty by 63.9% in the 3rd quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust’s stock valued at $5,137,000 after purchasing an additional 40,587 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its position in shares of Rexford Industrial Realty by 15.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 19,000 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 2,500 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

REXR opened at $46.68 on Friday. The firm has a market capitalization of $10.04 billion, a PE ratio of 41.68, a PEG ratio of 2.18 and a beta of 0.86. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The firm’s 50-day moving average price is $51.12 and its 200 day moving average price is $50.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.4175 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio is currently 149.11%.

About Rexford Industrial Realty

(Get Free Report

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.

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