Barclays Issues Positive Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Key Points

• Barclays has raised its price target for Rexford Industrial Realty from $35.00 to $39.00, indicating a potential downside of 10.24% based on current stock prices.
• Other analysts, including Mizuho and Scotiabank, have also adjusted their price targets, with the consensus target price for Rexford Industrial Realty now at $40.91.
• The stock is experiencing mixed performance, with shares down 0.2% recently and a reported quarterly earnings beat of $0.59 per share.

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price target raised by Barclays from $35.00 to $39.00 in a report issued on Monday, MarketBeat reports. The firm currently has an underweight rating on the real estate investment trust's stock.

Several other research firms have also recently commented on REXR. Evercore ISI boosted their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a report on Monday, September 8th. Scotiabank boosted their price objective on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Industrial Alliance Securities set a $39.00 price objective on shares of Rexford Industrial Realty in a research report on Monday, September 8th. Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Mizuho boosted their price objective on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.09.

Rexford Industrial Realty Stock Down 1.4%

Shares of NYSE REXR traded down $0.59 during trading hours on Monday, hitting $41.93. 1,284,744 shares of the stock were exchanged, compared to its average volume of 2,617,158. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty has a 12 month low of $29.68 and a 12 month high of $52.37. The company has a market cap of $9.92 billion, a PE ratio of 31.07, a PEG ratio of 4.69 and a beta of 1.13. The firm has a fifty day moving average price of $39.12 and a 200-day moving average price of $37.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, sell-side analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of REXR. Nomura Holdings Inc. boosted its position in Rexford Industrial Realty by 19,554.8% during the 2nd quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust's stock worth $82,622,000 after acquiring an additional 2,310,988 shares during the period. Westwood Holdings Group Inc. increased its position in Rexford Industrial Realty by 10.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 649,966 shares of the real estate investment trust's stock worth $23,119,000 after buying an additional 59,671 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Rexford Industrial Realty by 9.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 519,362 shares of the real estate investment trust's stock worth $18,477,000 after buying an additional 44,136 shares during the period. 44 Wealth Management LLC bought a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $422,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Rexford Industrial Realty by 53.3% during the second quarter. Tower Research Capital LLC TRC now owns 23,818 shares of the real estate investment trust's stock valued at $847,000 after purchasing an additional 8,280 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

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.