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

Rexford Industrial Realty (NYSE:REXR) had its price target lowered by Truist Financial from $57.00 to $53.00 in a research note published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on the stock. Robert W. Baird reissued a neutral rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research report 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 report on Wednesday, February 7th. TheStreet raised shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Mizuho reissued a neutral rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, Barclays started coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an underweight rating and a $45.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of Hold and a consensus target price of $55.60.

Rexford Industrial Realty Stock Up 2.2 %

Shares of NYSE:REXR opened at $43.19 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a 50 day moving average of $50.62 and a two-hundred day moving average of $50.68. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86.

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

Rexford Industrial Realty Increases Dividend

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

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty 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 filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently bought and sold shares of REXR. Norges Bank bought a new stake in Rexford Industrial Realty in the 4th quarter valued at about $283,319,000. Price T Rowe Associates Inc. MD raised its position in shares of Rexford Industrial Realty by 64.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock worth $570,016,000 after buying an additional 4,107,405 shares in the last quarter. Capital International Investors bought a new stake in shares of Rexford Industrial Realty during the 4th quarter worth about $139,522,000. Vanguard Group Inc. raised its position in shares of Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after buying an additional 1,587,612 shares in the last quarter. Finally, State Street Corp raised its position in shares of Rexford Industrial Realty by 19.0% during the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock worth $646,126,000 after buying an additional 1,375,680 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

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.