Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $49.00 by Analysts at Robert W. Baird

Rexford Industrial Realty (NYSE:REXR) had its price objective decreased by Robert W. Baird from $57.00 to $49.00 in a research report released on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on REXR. Wedbush began coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They set a neutral rating and a $45.00 price objective on the stock. Mizuho restated a neutral rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Barclays increased their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an underweight rating in a research note on Tuesday, April 23rd. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating for the company in a research report on Tuesday, April 16th. Finally, TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $53.64.

Rexford Industrial Realty Stock Down 1.0 %

Rexford Industrial Realty stock opened at $42.38 on Wednesday. The firm has a 50 day moving average price of $48.70 and a 200-day moving average price of $50.30. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a market capitalization of $9.23 billion, a P/E ratio of 38.88, a P/E/G ratio of 1.88 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. Rexford Industrial Realty’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced 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. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at $41,000. Fifth Third Bancorp lifted its stake in 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 acquiring an additional 411 shares during the period. Quarry LP boosted its holdings 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 acquiring an additional 740 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Rexford Industrial Realty in the fourth quarter worth approximately $96,000. Finally, Ninepoint Partners LP purchased a new position in shares of Rexford Industrial Realty during the third quarter valued at approximately $108,000. 99.52% of the stock is currently 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.