Rexford Industrial Realty (NYSE:REXR) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a research report released on Wednesday, Marketbeat reports. The firm issued an underweight rating and a $45.00 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a research note on Wednesday, February 7th. Robert W. Baird reissued a neutral rating and set a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. TheStreet raised shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research note on Thursday, February 1st. Finally, Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a buy rating for the company in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $56.00.

Rexford Industrial Realty Stock Performance

REXR stock opened at $49.88 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $60.06. The business’s fifty day moving average is $52.42 and its 200-day moving average is $51.04. The company has a market cap of $10.73 billion, a P/E ratio of 44.54, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.35%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.71%.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth about $28,000. Quent Capital LLC raised its holdings in Rexford Industrial Realty by 594.4% in the 3rd quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 636 shares during the period. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $41,000. Fifth Third Bancorp boosted its holdings in shares of Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 411 shares during the period. Finally, Belpointe Asset Management LLC grew its position in shares of Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 623 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

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.