Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $40.00 at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) had its price target cut by Evercore ISI from $43.00 to $40.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday, March 25th. Scotiabank decreased their target price on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Robert W. Baird dropped their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays dropped their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.67.

Rexford Industrial Realty Stock Down 2.5 %

Rexford Industrial Realty stock opened at $31.75 on Monday. The stock’s 50 day moving average price is $38.03 and its 200 day moving average price is $40.34. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a market cap of $7.50 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. 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 issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, sell-side analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is presently 138.71%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently added to or reduced their stakes in REXR. Paradigm Asset Management Co. LLC acquired a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $1,082,000. Charles Schwab Investment Management Inc. grew its holdings in Rexford Industrial Realty by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust’s stock valued at $107,587,000 after purchasing an additional 93,360 shares during the period. Impax Asset Management Group plc raised its stake in Rexford Industrial Realty by 63.6% during the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 8,431 shares during the period. JPMorgan Chase & Co. raised its stake in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in shares of Rexford Industrial Realty by 760,280.0% in the 4th quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 38,014 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

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.