Mizuho Raises Rexford Industrial Realty (NYSE:REXR) Price Target to $40.00

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 target price hoisted by Mizuho from $37.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.

Several other research analysts also recently commented on REXR. 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. Industrial Alliance Securities set a $44.00 price target on Rexford Industrial Realty in a research report on Tuesday, September 2nd. Scotiabank lifted their price target 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. Wells Fargo & Company dropped their price target 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. Finally, Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.55.

Rexford Industrial Realty Stock Performance

REXR traded down $0.08 on Monday, hitting $43.45. The company had a trading volume of 2,480,491 shares, compared to its average volume of 2,790,752. The company's fifty day moving average price is $38.66 and its 200 day moving average price is $37.08. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 4.83 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted 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. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The firm had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same period in the previous year, the company earned $0.60 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

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. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. Rexford Industrial Realty's payout ratio is currently 127.41%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 26,449 shares of the business's 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB grew its position 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 acquiring an additional 566 shares during the period. Bessemer Group Inc. grew its position 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 acquiring an additional 405 shares during the period. Private Trust Co. NA grew its position 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 acquiring an additional 370 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position 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 acquiring an additional 800 shares during the period. 99.52% of the stock is currently owned by 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.