Wells Fargo & Company Boosts Rexford Industrial Realty (NYSE:REXR) Price Target to $65.00

Rexford Industrial Realty (NYSE:REXRGet Rating) had its price target raised by Wells Fargo & Company from $58.00 to $65.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. StockNews.com started coverage on Rexford Industrial Realty in a report on Wednesday, October 12th. They set a sell rating on the stock. Stifel Nicolaus started coverage on Rexford Industrial Realty in a report on Wednesday, October 12th. They set a buy rating and a $64.00 price target on the stock. Finally, Robert W. Baird lowered their price target on Rexford Industrial Realty from $77.00 to $71.00 in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of Hold and an average price target of $70.00.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $55.02 on Tuesday. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 59.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.44 and a current ratio of 0.44. Rexford Industrial Realty has a one year low of $48.74 and a one year high of $84.68. The stock’s fifty day moving average is $53.91 and its 200-day moving average is $59.74.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, December 29th. Rexford Industrial Realty’s payout ratio is currently 135.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Rexford Industrial Realty by 3.2% during the third quarter. Vanguard Group Inc. now owns 24,203,244 shares of the real estate investment trust’s stock worth $1,258,568,000 after acquiring an additional 759,554 shares during the period. BlackRock Inc. increased its stake in Rexford Industrial Realty by 1.4% in the 3rd quarter. BlackRock Inc. now owns 22,667,920 shares of the real estate investment trust’s stock worth $1,178,731,000 after purchasing an additional 312,187 shares in the last quarter. Principal Financial Group Inc. increased its stake in Rexford Industrial Realty by 17.2% in the 2nd quarter. Principal Financial Group Inc. now owns 11,201,375 shares of the real estate investment trust’s stock worth $645,091,000 after purchasing an additional 1,643,386 shares in the last quarter. DigitalBridge Group Inc. increased its stake in Rexford Industrial Realty by 2,797.2% in the 1st quarter. DigitalBridge Group Inc. now owns 9,155,276 shares of the real estate investment trust’s stock worth $32,436,000 after purchasing an additional 8,839,276 shares in the last quarter. Finally, State Street Corp increased its stake in Rexford Industrial Realty by 2.7% in the 3rd quarter. State Street Corp now owns 9,066,632 shares of the real estate investment trust’s stock worth $474,163,000 after purchasing an additional 236,991 shares in the last quarter. 99.50% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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