Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $39.00 at Wells Fargo & Company

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by Wells Fargo & Company from $45.00 to $39.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the company. Evercore ISI lowered their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Barclays lowered their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research note on Tuesday, May 6th. Scotiabank lowered their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Finally, Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $40.00.

Rexford Industrial Realty Stock Down 0.4%

Shares of REXR opened at $35.59 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 12 month low of $29.68 and a 12 month high of $52.61. The stock’s 50 day moving average is $35.47 and its two-hundred day moving average is $38.74. The firm has a market cap of $8.42 billion, a P/E ratio of 29.41, a PEG ratio of 2.62 and a beta of 1.12.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating 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 return on equity of 3.26% and a net margin of 29.10%. Analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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 paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 annualized dividend and a yield of 4.83%. Rexford Industrial Realty’s payout ratio is 138.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in Rexford Industrial Realty by 403.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 553 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 566 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 370 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth about $33,000. 99.52% of the stock is owned by institutional investors and hedge funds.

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.