Rexford Industrial Realty (NYSE:REXR) Trading Up 5% - What's Next?

Key Points

• Rexford Industrial Realty's stock increased by 5% on Tuesday, reaching a high of $39.31, despite a significant decrease in trading volume.
• Analysts have downgraded the company's stock, with target prices ranging from $35.00 to $39.00, leading to an overall average rating of "Hold".
• The company reported earnings of $0.59 per share in its last quarter, slightly above expectations, and plans to pay a quarterly dividend of $0.43 per share, resulting in a 4.4% annual yield.

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report)'s share price was up 5% on Tuesday . The company traded as high as $39.31 and last traded at $39.57. Approximately 571,891 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,579,246 shares. The stock had previously closed at $37.67.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on REXR shares. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Barclays reduced their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price objective for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Stock Performance

The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 4.23 and a beta of 1.10. The company's 50 day simple moving average is $36.85 and its 200 day simple moving average is $36.92. 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 (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, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same period in the previous year, the company posted $0.60 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the business's 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nomura Holdings Inc. raised its position in shares of Rexford Industrial Realty by 19,554.8% in the 2nd quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust's stock valued at $82,622,000 after acquiring an additional 2,310,988 shares during the period. Westwood Holdings Group Inc. increased its holdings in Rexford Industrial Realty by 10.1% during the second 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 last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Rexford Industrial Realty by 9.3% during the second 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 last quarter. 44 Wealth Management LLC acquired a new position in Rexford Industrial Realty during the second quarter worth $422,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Rexford Industrial Realty by 53.3% in 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 last quarter. 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.

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