Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $50.00 by Analysts at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its price target reduced by Truist Financial from $53.00 to $50.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

REXR has been the topic of a number of other reports. Mizuho restated a neutral rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. TheStreet raised Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price on the stock. in a research report on Wednesday, February 7th. Robert W. Baird lowered their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Finally, 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 on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $53.36.

Rexford Industrial Realty Trading Down 0.6 %

Shares of NYSE:REXR traded down $0.28 on Thursday, hitting $44.12. 391,855 shares of the company’s stock were exchanged, compared to its average volume of 1,946,611. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.02. The business’s 50 day simple moving average is $48.38 and its two-hundred day simple moving average is $50.25.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same quarter last year, the company posted $0.52 EPS. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction on 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 accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of Rexford Industrial Realty during the fourth quarter valued at $41,000. Fifth Third Bancorp raised its position in Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares during the last quarter. Quarry LP boosted its stake in Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 740 shares in the last quarter. Principal Securities Inc. acquired a new position in Rexford Industrial Realty in the fourth quarter worth $96,000. Finally, Ninepoint Partners LP bought a new stake in shares of Rexford Industrial Realty during the third quarter worth $108,000. 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.