Robert W. Baird Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by Robert W. Baird from $48.00 to $47.00 in a research note released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on REXR. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Barclays dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Scotiabank dropped their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.50.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $40.77 on Tuesday. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $53.88. The stock has a market cap of $9.29 billion, a PE ratio of 33.69, a P/E/G ratio of 2.62 and a beta of 0.98. The firm has a 50-day simple moving average of $39.95 and a two-hundred day simple moving average of $43.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 142.15%.

Institutional Trading of Rexford Industrial Realty

Institutional investors have recently modified their holdings of the stock. Paradigm Asset Management Co. LLC purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $1,082,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $3,376,000. Asset Management One Co. Ltd. lifted its position in shares of Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock worth $23,730,000 after buying an additional 64,264 shares during the last quarter. Impax Asset Management Group plc raised its position in Rexford Industrial Realty by 63.6% in the 4th quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust’s stock valued at $839,000 after purchasing an additional 8,431 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.