Rexford Industrial Realty (NYSE:REXR) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho has raised its price target for Rexford Industrial Realty from $37.00 to $40.00, indicating a potential downside of 6.64% from the current stock price.
• The real estate investment trust reported earnings of $0.59 per share, slightly surpassing analyst expectations, while its revenue of $241.57 million fell short of forecasts.
• As of recently, two analysts have rated Rexford Industrial Realty as a Buy, while the consensus rating is "Hold," with an average price target of $41.00.

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price target increased by Mizuho from $37.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

Several other equities analysts have also issued reports on the company. Truist Financial lifted their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Industrial Alliance Securities set a $44.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, September 2nd. Scotiabank raised their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a research report on Thursday, September 4th. Finally, Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $40.55.

Rexford Industrial Realty Stock Down 0.2%

Shares of REXR stock traded down $0.08 during trading hours on Monday, hitting $43.45. 2,480,491 shares of the company's stock traded hands, compared to its average volume of 2,629,881. The stock's fifty day simple moving average is $38.54 and its two-hundred day simple moving average is $37.06. Rexford Industrial Realty has a 12-month low of $29.68 and a 12-month high of $52.37. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.74 and a beta of 1.13. 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 (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million during 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 firm's revenue for the quarter 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. On average, analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted 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 valued at $27,000 after buying an additional 553 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Rexford Industrial Realty by 332.9% in the 1st 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. raised its holdings in shares of 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 worth $29,000 after buying an additional 405 shares during the period. Private Trust Co. NA lifted its position in shares of 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 last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Rexford Industrial Realty by 280.7% during the 1st 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 buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Company Profile

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.