Rexford Industrial Realty Inc (NASDAQ:REXR) had its target price raised by Citigroup Inc. from $28.50 to $30.00 in a report issued on Tuesday, October 17th. The brokerage currently has a neutral rating on the stock.
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a buy rating and issued a $32.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. Stifel Nicolaus reissued a buy rating and issued a $30.00 price target on shares of Rexford Industrial Realty in a report on Friday, July 14th. DA Davidson restated a buy rating and set a $33.00 target price (up previously from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, July 13th. National Securities upgraded shares of Rexford Industrial Realty from a hold rating to a buy rating and increased their target price for the stock from $23.00 to $32.00 in a research report on Tuesday, August 29th. Finally, Zacks Investment Research upgraded shares of Rexford Industrial Realty from a hold rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $30.56.
Rexford Industrial Realty (NASDAQ REXR) opened at 29.74 on Tuesday. Rexford Industrial Realty has a 12-month low of $20.05 and a 12-month high of $30.66. The firm’s 50-day moving average price is $29.73 and its 200-day moving average price is $27.81. The company has a market cap of $2.11 billion and a P/E ratio of 63.68.
Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $36.78 million for the quarter, compared to analysts’ expectations of $36.75 million. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Analysts expect that Rexford Industrial Realty will post $0.36 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.58 annualized dividend and a dividend yield of 1.95%.
Several hedge funds and other institutional investors have recently bought and sold shares of REXR. BlackRock Inc. boosted its position in Rexford Industrial Realty by 1,607.5% in the first quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock valued at $131,347,000 after buying an additional 5,490,976 shares in the last quarter. Vanguard Group Inc. boosted its position in Rexford Industrial Realty by 16.2% in the second quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock valued at $252,449,000 after buying an additional 1,282,548 shares in the last quarter. Renaissance Technologies LLC boosted its position in Rexford Industrial Realty by 191.9% in the second quarter. Renaissance Technologies LLC now owns 673,300 shares of the company’s stock valued at $18,475,000 after buying an additional 442,600 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Rexford Industrial Realty by 40.2% in the second quarter. Russell Investments Group Ltd. now owns 1,442,941 shares of the company’s stock valued at $39,568,000 after buying an additional 413,653 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in Rexford Industrial Realty in the second quarter valued at approximately $8,704,000.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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