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

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

A number of other analysts also recently weighed in on the company. Truist Financial dropped their target price on Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating for the company in a research report on Tuesday, April 16th. TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Wedbush initiated coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a neutral rating and a $45.00 target price for the company. Mizuho restated a neutral rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of Hold and a consensus price target of $54.73.

Rexford Industrial Realty Stock Up 0.5 %

Shares of NYSE REXR opened at $43.20 on Tuesday. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02. The business has a 50-day simple moving average of $49.30 and a two-hundred day simple moving average of $50.42. The company has a quick ratio of 1.35, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market cap of $9.41 billion, a P/E ratio of 39.63, a P/E/G ratio of 1.87 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). The company had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Research analysts anticipate that Rexford Industrial Realty will post 2.33 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 $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.86%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock valued at $11,491,000 after acquiring an additional 135,627 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after acquiring an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Rexford Industrial Realty in the fourth quarter worth $3,327,000. Daiwa Securities Group Inc. raised its holdings in Rexford Industrial Realty by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after purchasing an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Rexford Industrial Realty by 6.8% in the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after purchasing an additional 19,981 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

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.