Truist Financial Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $53.00

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

A number of other research analysts also recently issued reports on the stock. Robert W. Baird reiterated a neutral rating and issued a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Mizuho reiterated a neutral rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Barclays assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an underweight rating and a $45.00 price target for the company. Finally, TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $55.60.

Rexford Industrial Realty Trading Up 2.2 %

Shares of REXR stock opened at $43.19 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $9.41 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. The company has a 50 day moving average price of $50.62 and a 200 day moving average price of $50.68. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 29.75% and a return on equity of 3.11%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Equities research analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.67 annualized dividend and a yield of 3.87%. Rexford Industrial Realty’s dividend payout ratio is 149.11%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors have recently bought and sold shares of REXR. Norges Bank acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $283,319,000. Price T Rowe Associates Inc. MD increased its stake in Rexford Industrial Realty by 64.9% in the 4th 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 buying an additional 4,107,405 shares during the period. Capital International Investors acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $139,522,000. Vanguard Group Inc. increased its stake in Rexford Industrial Realty by 7.5% in the 1st 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 buying an additional 1,587,612 shares during the period. Finally, State Street Corp increased its stake in Rexford Industrial Realty by 19.0% in the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after buying an additional 1,375,680 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

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.