Rexford Industrial Realty Receives Overweight Rating from JPMorgan Chase & Co. (REXR)
Rexford Industrial Realty (NASDAQ:REXR)‘s stock had its “overweight” rating reissued by analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday. They currently have a $16.00 price target on the stock, up from their previous price target of $15.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 9.07% from the stock’s previous close.
Rexford Industrial Realty (NASDAQ:REXR) traded up 0.20% during mid-day trading on Thursday, hitting $14.70. 72,322 shares of the company’s stock traded hands. Rexford Industrial Realty has a 52-week low of $12.73 and a 52-week high of $15.50. The stock has a 50-day moving average of $14.18 and a 200-day moving average of $14.19. The company has a market cap of $373.7 million and a P/E ratio of 138.40.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.02. Analysts expect that Rexford Industrial Realty will post $0.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Friday, September 26th.
Separately, analysts at Zacks upgraded shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 13th. They now have a $15.90 price target on the stock.
Rexford Industrial Realty, Inc is a real estate investment trust (NASDAQ:REXR) focused on owning and operating industrial properties in Southern California infill markets.
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