Rexford Industrial Realty (NYSE:REXR) Earns Underweight Rating from Analysts at Barclays

Barclays initiated coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued an underweight rating and a $45.00 target price on the real estate investment trust’s stock.

REXR has been the subject of several other research reports. TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. downgraded 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 note on Wednesday, February 7th. Robert W. Baird restated a neutral rating and issued a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Finally, Truist Financial reduced their target price on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a buy rating for the company in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $56.00.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $50.30 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $60.06. The company has a market capitalization of $10.82 billion, a PE ratio of 44.91, a P/E/G ratio of 2.15 and a beta of 0.87. The company has a fifty day moving average of $52.25 and a two-hundred day moving average of $51.02.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $0.4175 per share. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a yield of 3.32%. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio is currently 149.11%.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Rexford Industrial Realty during the fourth quarter worth about $1,312,000. PNC Financial Services Group Inc. increased its holdings in Rexford Industrial Realty by 63.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,797 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 4,954 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 4.5% in the fourth 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. Goldman Sachs Group Inc. increased its holdings in Rexford Industrial Realty by 20.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 943,539 shares of the real estate investment trust’s stock valued at $52,933,000 after buying an additional 158,431 shares in the last quarter. Finally, Napa Wealth Management purchased a new position in Rexford Industrial Realty in the fourth quarter valued at about $298,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.