Wells Fargo & Company Raises Rexford Industrial Realty (NYSE:REXR) Price Target to $65.00

Rexford Industrial Realty (NYSE:REXRGet Rating) had its target price increased by Wells Fargo & Company from $58.00 to $65.00 in a research note published on Tuesday morning, Marketbeat reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

REXR has been the subject of a number of other research reports. StockNews.com began coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 12th. They issued a sell rating for the company. Robert W. Baird dropped their target price on shares of Rexford Industrial Realty from $77.00 to $71.00 in a report on Monday, October 24th. Finally, Stifel Nicolaus assumed coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 12th. They issued a buy rating and a $64.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of Hold and an average price target of $70.00.

Rexford Industrial Realty Trading Up 0.6 %

Shares of Rexford Industrial Realty stock opened at $55.38 on Tuesday. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 59.55 and a beta of 0.83. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.30. Rexford Industrial Realty has a 12-month low of $48.74 and a 12-month high of $84.68. The firm’s 50-day moving average price is $54.15 and its two-hundred day moving average price is $59.80.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, December 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.48%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,203,244 shares of the real estate investment trust’s stock worth $1,258,568,000 after purchasing an additional 759,554 shares during the period. BlackRock Inc. raised its stake in shares of Rexford Industrial Realty by 1.4% during the 3rd quarter. BlackRock Inc. now owns 22,667,920 shares of the real estate investment trust’s stock worth $1,178,731,000 after purchasing an additional 312,187 shares during the period. Principal Financial Group Inc. raised its stake in shares of Rexford Industrial Realty by 17.2% during the 2nd quarter. Principal Financial Group Inc. now owns 11,201,375 shares of the real estate investment trust’s stock worth $645,091,000 after purchasing an additional 1,643,386 shares during the period. DigitalBridge Group Inc. raised its stake in shares of Rexford Industrial Realty by 2,797.2% during the 1st quarter. DigitalBridge Group Inc. now owns 9,155,276 shares of the real estate investment trust’s stock worth $32,436,000 after purchasing an additional 8,839,276 shares during the period. Finally, State Street Corp raised its stake in shares of Rexford Industrial Realty by 2.7% during the 3rd quarter. State Street Corp now owns 9,066,632 shares of the real estate investment trust’s stock worth $474,163,000 after purchasing an additional 236,991 shares during the period. 99.50% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Company Profile

(Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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