Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $49.00 by Analysts at Robert W. Baird

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by Robert W. Baird from $57.00 to $49.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on REXR. Wedbush started coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a neutral rating and a $45.00 price target on the stock. TheStreet raised Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Truist Financial decreased their price target on Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective on the stock. in a research note on Wednesday, February 7th. Finally, Barclays raised their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an underweight rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of Hold and a consensus price target of $53.64.

Rexford Industrial Realty Trading Down 1.0 %

NYSE:REXR opened at $42.38 on Wednesday. The company has a market capitalization of $9.23 billion, a PE ratio of 38.88, a P/E/G ratio of 1.88 and a beta of 0.89. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The stock’s 50 day moving average price is $48.70 and its 200 day moving average price is $50.30. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter last year, the business posted $0.52 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. On average, research analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of REXR. Norges Bank purchased a new stake in Rexford Industrial Realty in the 4th quarter valued at approximately $157,685,000. Capital International Investors purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at $139,522,000. Vanguard Group Inc. boosted its stake in shares of Rexford Industrial Realty by 4.5% during 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 acquiring an additional 1,235,894 shares during the last quarter. Boston Partners increased its position in Rexford Industrial Realty by 63.3% during the 4th quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock worth $155,536,000 after purchasing an additional 1,075,005 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Rexford Industrial Realty by 103.2% in the 3rd 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 last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.