Rexford Industrial Realty (NYSE:REXR) Given New $53.00 Price Target at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by Truist Financial from $57.00 to $53.00 in a report published on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays started coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an underweight rating and a $45.00 target price for the company. Mizuho reissued a neutral rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Robert W. Baird reissued a neutral rating and issued 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, JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $55.60.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $44.66 on Tuesday. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $50.97 and a 200 day simple moving average of $50.77. The stock has a market capitalization of $9.61 billion, a PE ratio of 39.88, a P/E/G ratio of 2.14 and a beta of 0.86.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.4175 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 149.11%.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $283,319,000. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 64.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock valued at $570,016,000 after purchasing an additional 4,107,405 shares in the last quarter. Capital International Investors acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $139,522,000. Vanguard Group Inc. raised its stake in Rexford Industrial Realty by 7.5% in the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after purchasing an additional 1,587,612 shares in the last quarter. Finally, State Street Corp raised its stake in Rexford Industrial Realty by 19.0% in the first quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after purchasing an additional 1,375,680 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.