Rexford Industrial Realty (NYSE:REXR) Price Target Raised to $46.00 at Barclays

Rexford Industrial Realty (NYSE:REXR) had its price target lifted by Barclays from $45.00 to $46.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the company. Wedbush initiated coverage on Rexford Industrial Realty in a research report on Monday. They set a neutral rating and a $45.00 price objective for the company. Truist Financial lowered their target price on Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating for the company in a report on Tuesday, April 16th. Mizuho reiterated a neutral rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Robert W. Baird reiterated a neutral rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Finally, TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of Hold and a consensus target price of $54.73.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $43.73 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 debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The business has a 50-day moving average of $49.88 and a 200-day moving average of $50.57.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. During the same quarter last year, the business earned $0.52 earnings per share. Rexford Industrial Realty’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Rexford Industrial Realty will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.81%. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of REXR. GAMMA Investing LLC purchased a new position in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $41,000. Fifth Third Bancorp lifted its position in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 411 shares during the last quarter. Quarry LP lifted its position in shares of Rexford Industrial Realty by 195.8% during the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 740 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at $96,000. Finally, Ninepoint Partners LP purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at $108,000. Hedge funds and other institutional investors 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.