Evercore ISI Increases Rexford Industrial Realty (NYSE:REXR) Price Target to $40.00

Key Points

• Evercore ISI has increased its price target for Rexford Industrial Realty from $39.00 to $40.00 while maintaining an "in-line" rating, indicating a potential downside of 7.18% based on the stock's previous close.
• Other analysts have issued mixed ratings, with Wells Fargo lowering its target to $39.00 while Scotiabank raised its target to $43.00, resulting in a consensus "Hold" rating and an average price target of $41.00.
• Rexford Industrial Realty recently reported a quarterly EPS of $0.59, exceeding estimates, but its revenue was below expectations at $241.57 million for the quarter.

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price objective lifted by Evercore ISI from $39.00 to $40.00 in a research report sent to investors on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust's stock.

Several other research analysts also recently weighed in on REXR. Mizuho lifted their target price on Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, September 8th. Truist Financial lifted their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank boosted their target price on 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. Finally, Industrial Alliance Securities set a $39.00 target price on Rexford Industrial Realty in a research report on Monday, September 8th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and a consensus target price of $41.09.

Rexford Industrial Realty Stock Down 1.4%

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

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

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.1%. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Insider Buying and Selling

In other news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 553 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 566 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA boosted its holdings in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Rexford Industrial Realty by 280.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

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.