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

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

Several other brokerages also recently issued reports on REXR. Truist Financial cut 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. Mizuho restated a neutral rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. 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 began coverage on shares of Rexford Industrial Realty in a report on Monday. They issued a neutral rating and a $45.00 price target on the stock. Finally, TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $54.73.

Rexford Industrial Realty Stock Up 1.1 %

Rexford Industrial Realty stock opened at $43.01 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The company’s 50-day moving average is $49.50 and its 200-day moving average is $50.46. The firm has a market capitalization of $9.37 billion, a PE ratio of 39.46, a P/E/G ratio of 1.87 and a beta of 0.86. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week 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 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 analyst estimates of $207.39 million. During the same period last year, the firm earned $0.52 EPS. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Activity

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

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently made changes to their positions in REXR. Los Angeles Capital Management LLC boosted its position in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 210 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Rexford Industrial Realty by 4.9% during the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 259 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock valued at $999,000 after acquiring an additional 330 shares in the last quarter. Xponance Inc. grew its position in Rexford Industrial Realty by 1.5% during the 3rd quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 359 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Rexford Industrial Realty by 0.7% in the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock worth $3,233,000 after purchasing an additional 407 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.