Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $41.00 at Barclays

Rexford Industrial Realty (NYSE:REXR) had its target price reduced by Barclays from $44.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial decreased their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average price target of $50.27.

Rexford Industrial Realty Stock Up 3.0 %

NYSE:REXR opened at $38.29 on Monday. The stock’s fifty day simple moving average is $40.56 and its 200-day simple moving average is $45.76. The firm has a market capitalization of $8.52 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 12-month low of $36.92 and a 12-month high of $56.14.

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

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.36%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty in the 2nd quarter valued at $41,000. GAMMA Investing LLC boosted its position in shares of Rexford Industrial Realty by 111.7% in the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 976 shares during the period. Archer Investment Corp raised its stake in Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Rexford Industrial Realty in the 3rd quarter valued at about $129,000. 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.