Rexford Industrial Realty (NYSE:REXR) Given Neutral Rating at Mizuho

Mizuho restated their neutral rating on shares of Rexford Industrial Realty (NYSE:REXRFree Report) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $52.00 target price on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on REXR. Robert W. Baird reissued a neutral rating and set a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. TheStreet raised shares of Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Barclays assumed coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They set an underweight rating and a $45.00 price target on the stock. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a buy rating on the stock in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. downgraded 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 report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of Hold and a consensus target price of $56.00.

Check Out Our Latest Research Report on REXR

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $48.56 on Tuesday. The company’s fifty day moving average price is $51.99 and its 200 day moving average price is $50.95. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $60.06. The company has a market capitalization of $10.44 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 2.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 149.11%.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 worth $1,625,882,000 after purchasing an additional 1,235,894 shares during the last quarter. BlackRock Inc. increased its position in shares of Rexford Industrial Realty by 1.7% during the first quarter. BlackRock Inc. now owns 24,373,926 shares of the real estate investment trust’s stock valued at $1,453,905,000 after acquiring an additional 412,984 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rexford Industrial Realty by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,735,524 shares of the real estate investment trust’s stock valued at $882,765,000 after acquiring an additional 1,366,351 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Rexford Industrial Realty by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock valued at $771,985,000 after acquiring an additional 181,552 shares during the last quarter. Finally, State Street Corp increased its position in shares of Rexford Industrial Realty by 3.4% during the second quarter. State Street Corp now owns 10,875,167 shares of the real estate investment trust’s stock valued at $571,954,000 after acquiring an additional 354,577 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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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.

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