Barclays Boosts Rexford Industrial Realty (NYSE:REXR) Price Target to $46.00

Rexford Industrial Realty (NYSE:REXR) had its price target increased by Barclays from $45.00 to $46.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on REXR. TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Truist Financial reduced their target price on Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a report on Wednesday, February 7th. Wedbush assumed coverage on shares of Rexford Industrial Realty in a report on Monday. They issued a neutral rating and a $45.00 target price for the company. Finally, Mizuho reiterated a neutral rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $54.73.

Rexford Industrial Realty Trading Up 1.1 %

Shares of REXR stock opened at $43.01 on Tuesday. The company’s 50-day moving average price is $49.50 and its 200-day moving average price is $50.46. The company has a current ratio of 3.21, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.87 and a beta of 0.86. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities analysts predict that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.417 dividend. This represents a $1.67 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its position in Rexford Industrial Realty by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 123,057 shares of the real estate investment trust’s stock valued at $6,071,000 after acquiring an additional 3,568 shares during the period. Exchange Traded Concepts LLC increased its position in Rexford Industrial Realty by 237.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,086 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 4,283 shares during the period. Presima Securities ULC increased its position in Rexford Industrial Realty by 55.9% in the 3rd quarter. Presima Securities ULC now owns 359,400 shares of the real estate investment trust’s stock valued at $17,736,000 after acquiring an additional 128,800 shares during the period. Spirit of America Management Corp NY lifted its holdings in Rexford Industrial Realty by 15.2% in the third quarter. Spirit of America Management Corp NY now owns 19,000 shares of the real estate investment trust’s stock valued at $938,000 after acquiring an additional 2,500 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in Rexford Industrial Realty by 23.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 33,602 shares of the real estate investment trust’s stock valued at $1,658,000 after purchasing an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.