Rexford Industrial Realty (NYSE:REXR) Raised to Hold at Wall Street Zen

Key Points

• Rexford Industrial Realty's rating was upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more positive outlook on the stock.
• Multiple analysts have raised their price targets for the company, with Truist Financial setting the highest target at $42.00, signaling investor confidence.
• The stock currently has a market cap of $9.93 billion and reported quarterly earnings of $0.59 EPS, exceeding analyst expectations slightly.

Wall Street Zen upgraded shares of Rexford Industrial Realty (NYSE:REXR - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

A number of other equities analysts have also recently weighed in on the stock. Mizuho lifted their price target 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. Barclays boosted their price objective on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a research note on Monday, September 15th. Industrial Alliance Securities set a $40.00 price target on shares of Rexford Industrial Realty in a research note on Monday, September 15th. Scotiabank increased their target price 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. Finally, Truist Financial increased their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.09.

Rexford Industrial Realty Stock Performance

Shares of REXR traded down $0.56 during trading hours on Friday, reaching $41.96. 3,715,239 shares of the company traded hands, compared to its average volume of 2,774,937. The stock's fifty day moving average is $39.22 and its 200 day moving average is $37.11. The stock has a market cap of $9.93 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 4.66 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.37.

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

Rexford Industrial Realty Announces Dividend

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

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Private Trust Co. NA increased 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 acquiring an additional 370 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 800 shares in the last quarter. 99.52% of the stock is 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.