Rexford Industrial Realty (NYSE:REXR) PT Lowered to $49.00

Rexford Industrial Realty (NYSE:REXR) had its target price trimmed by Robert W. Baird from $57.00 to $49.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also recently commented on the stock. TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective for the company. in a research note on Wednesday, February 7th. Truist Financial cut 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. Mizuho reaffirmed a neutral rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, Barclays increased their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an underweight rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $53.36.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $44.40 on Wednesday. The company has a 50 day moving average price of $48.38 and a 200-day moving average price of $50.23. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The stock has a market capitalization of $9.67 billion, a PE ratio of 40.73, a PEG ratio of 1.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21.

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 business had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Equities analysts predict that Rexford Industrial Realty will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $157,685,000. Capital International Investors purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $139,522,000. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after purchasing an additional 1,235,894 shares during the period. Boston Partners grew its holdings in shares of Rexford Industrial Realty by 63.3% in the fourth quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock valued at $155,536,000 after purchasing an additional 1,075,005 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Rexford Industrial Realty by 103.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,591,399 shares of the real estate investment trust’s stock valued at $78,536,000 after purchasing an additional 808,134 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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.