Rexford Industrial Realty (NYSE:REXR) PT Lowered to $49.00 at Robert W. Baird

Rexford Industrial Realty (NYSE:REXR) had its target price reduced by Robert W. Baird from $57.00 to $49.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also commented on the stock. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a neutral rating and a $45.00 price target for the company. Mizuho reissued a neutral rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. TheStreet raised shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Truist Financial decreased their price objective 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. Finally, JPMorgan Chase & Co. lowered Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price on the stock. in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty has an average rating of Hold and a consensus price target of $53.36.

Rexford Industrial Realty Price Performance

REXR stock opened at $44.42 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The company’s 50-day moving average is $48.38 and its 200-day moving average is $50.22. The stock has a market capitalization of $9.68 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.89. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. Equities research analysts expect that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.76%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity

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

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently modified their holdings of REXR. Norges Bank bought a new position in Rexford Industrial Realty during the fourth quarter worth about $157,685,000. Capital International Investors bought a new position in Rexford Industrial Realty in the 4th quarter worth approximately $139,522,000. Vanguard Group Inc. grew its stake in Rexford Industrial Realty by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after buying an additional 1,235,894 shares in the last quarter. Boston Partners raised its holdings in Rexford Industrial Realty by 63.3% during the 4th quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock valued at $155,536,000 after acquiring an additional 1,075,005 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Rexford Industrial Realty by 103.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,591,399 shares of the real estate investment trust’s stock worth $78,536,000 after acquiring an additional 808,134 shares in 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.