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

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

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a research report on Wednesday, February 7th. TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. 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 report on Friday, January 5th. Wedbush began coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a neutral rating and a $45.00 price objective for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $54.73.

Rexford Industrial Realty Trading Up 0.5 %

Shares of REXR stock opened at $43.20 on Tuesday. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. The firm has a fifty day moving average of $49.30 and a 200-day moving average of $50.42.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results 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). The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. On average, equities research analysts forecast that Rexford Industrial Realty will post 2.33 earnings per share for the current fiscal 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 paid a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC boosted its stake in Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 210 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Rexford Industrial Realty by 4.9% during the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 259 shares during the last quarter. Securian Asset Management Inc. boosted its stake in Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 330 shares during the last quarter. Xponance Inc. boosted its stake in Rexford Industrial Realty by 1.5% during the 3rd quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 359 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Rexford Industrial Realty by 0.7% during the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock worth $3,233,000 after acquiring an additional 407 shares during 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.