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

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

A number of other research firms have also weighed in on REXR. Mizuho reaffirmed a neutral rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Robert W. Baird reaffirmed a neutral rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Wedbush initiated coverage on Rexford Industrial Realty in a research report on Monday. They set a neutral rating and a $45.00 price objective for the company. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. Finally, Truist Financial reduced their target price 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of Hold and an average target price of $54.73.

Rexford Industrial Realty Stock Up 1.7 %

Shares of NYSE:REXR opened at $43.73 on Tuesday. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The firm has a market capitalization of $9.53 billion, a P/E ratio of 40.12, a P/E/G ratio of 1.89 and a beta of 0.86. The stock has a 50 day moving average price of $49.88 and a 200-day moving average price of $50.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21.

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 the consensus estimate 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 firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts anticipate that Rexford Industrial Realty will post 2.33 EPS for the current fiscal 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 $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.81%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

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 on Monday, February 12th. The stock was 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 can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in Rexford Industrial Realty by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the real estate investment trust’s stock valued at $3,053,000 after purchasing an additional 1,400 shares in the last quarter. Raymond James & Associates lifted its position in Rexford Industrial Realty by 2.4% during the first quarter. Raymond James & Associates now owns 99,237 shares of the real estate investment trust’s stock valued at $4,992,000 after purchasing an additional 2,330 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Rexford Industrial Realty during the first quarter valued at $284,000. State of Alaska Department of Revenue lifted its position in Rexford Industrial Realty by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 123,265 shares of the real estate investment trust’s stock valued at $6,199,000 after purchasing an additional 420 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in Rexford Industrial Realty by 5.3% during the first quarter. Azzad Asset Management Inc. ADV now owns 13,727 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 685 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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.