In yesterday’s Wall Street session, Rexford Industrial Realty Inc. (NYSE:REXR) shares traded at $54.33, up 0.11% from the previous session.
10 analysts cover Rexford Industrial Realty Inc. (NYSE:REXR), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $77.00 and a low of $66.00, we find $69.00. Given the previous closing price of $54.27, this indicates a potential upside of 27.14 percent. REXR stock price is now -3.49% away from the 50-day moving average and -5.97% away from the 200-day moving average. The market capitalization of the company currently stands at $11.64B.
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The stock has received a hold rating from 1 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $69.67 as their price target over the next twelve months.
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In other news, Schwimmer Howard, Co-CEO, Co-President sold 35,505 shares of the company’s stock on Apr 28. The stock was sold for $1,986,093 at an average price of $55.94. Upon completion of the transaction, the Co-CEO, Co-President now directly owns 50,862 shares in the company, valued at $2.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14, General Counsel & Secretary Lanzer David E. sold 16,778 shares of the business’s stock. A total of $975,891 was realized by selling the stock at an average price of $58.16. Insiders disposed of 101,408 shares of company stock worth roughly $5.51 million over the past 1 year. A total of 0.28% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in REXR stock. A new stake in Rexford Industrial Realty Inc. shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $85,683,000. TUDOR INVESTMENT CORP ET AL invested $9,852,000 in shares of REXR during the first quarter. In the first quarter, ILMARINEN MUTUAL PENSION INSURANCE CO acquired a new stake in Rexford Industrial Realty Inc. valued at approximately $9,562,000. M&G INVESTMENT MANAGEMENT LTD acquired a new stake in REXR for approximately $9,450,000. JUMP FINANCIAL, LLC purchased a new stake in REXR valued at around $6,507,000 in the second quarter. In total, there are 547 active investors with 98.10% ownership of the company’s stock.
On Monday morning Rexford Industrial Realty Inc. (NYSE: REXR) stock kicked off with the opening price of $54.39. During the past 12 months, Rexford Industrial Realty Inc. has had a low of $48.74 and a high of $68.68. According to the stock market information, the enterprise value for the company is $13.30B, which is based on a 57.37 price-to-earnings ratio, a 5.74 price-to-earnings-growth ratio, and a beta of 0.86. The fifty day moving average price for REXR is $56.25 and a two-hundred day moving average price translates $57.72 for the stock.
The latest earnings results from Rexford Industrial Realty Inc. (NYSE: REXR) was released for Mar, 2023. According to the REIT – Industrial Company, earnings per share came in at $0.3, beating analysts’ expectations of $0.22 by 0.08. This compares to $0.27 EPS in the same period last year. The net profit margin was 25.30% and return on equity was 2.80% for REXR. The company reported revenue of $186.24 million for the quarter, compared to $140.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.31 percent. For the current quarter, analysts expect REXR to generate $196.92M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 06/30/2023 were paid a $0.38 dividend. On an annualized basis, this represents a $1.52 dividend and a 2.80% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, REXR is presently at 132.60%.
Rexford Industrial Realty Inc.(REXR) Company Profile
Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
