Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $45.00 at Mizuho

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by Mizuho from $46.00 to $45.00 in a report published on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the stock. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $50.73.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $38.22 on Wednesday. The stock’s fifty day moving average is $40.86 and its 200 day moving average is $45.88. Rexford Industrial Realty has a one year low of $37.67 and a one year high of $56.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $8.50 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of large investors have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Rexford Industrial Realty during the third quarter worth $3,376,000. Asset Management One Co. Ltd. raised its holdings in Rexford Industrial Realty by 15.8% in the third quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock worth $23,730,000 after purchasing an additional 64,264 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Rexford Industrial Realty by 62.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,234 shares of the real estate investment trust’s stock valued at $1,170,000 after buying an additional 10,064 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after buying an additional 954,202 shares in the last quarter. Finally, M&G PLC grew its position in shares of Rexford Industrial Realty by 24.0% in the 3rd quarter. M&G PLC now owns 935,892 shares of the real estate investment trust’s stock worth $46,795,000 after buying an additional 180,940 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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.