Rexford Industrial Realty (NYSE:REXR) Sets New 12-Month Low on Analyst Downgrade

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) hit a new 52-week low during trading on Wednesday after Truist Financial lowered their price target on the stock from $44.00 to $37.00. Truist Financial currently has a buy rating on the stock. Rexford Industrial Realty traded as low as $32.28 and last traded at $33.05, with a volume of 2123764 shares trading hands. The stock had previously closed at $33.38.

Several other brokerages have also recently issued reports on REXR. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Evercore ISI reduced their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Barclays decreased their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.55.

Institutional Investors Weigh In On Rexford Industrial Realty

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

Rexford Industrial Realty Price Performance

The business has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $39.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The firm had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.19%. Rexford Industrial Realty’s payout ratio is 138.71%.

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.