Rexford Industrial Realty (NYSE:REXR) Given New $47.00 Price Target at Robert W. Baird

Rexford Industrial Realty (NYSE:REXR) had its target price cut by Robert W. Baird from $48.00 to $47.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective on the stock. Scotiabank lowered their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Mizuho lowered their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial lowered their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.50.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $40.41 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $39.86 and its 200-day moving average price is $43.74. Rexford Industrial Realty has a 52 week low of $36.92 and a 52 week high of $53.88. The stock has a market cap of $9.21 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities research analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Rush Island Management LP purchased a new position in Rexford Industrial Realty during the fourth quarter valued at $132,701,000. Norges Bank purchased a new position in Rexford Industrial Realty during the fourth quarter valued at $104,685,000. Long Pond Capital LP purchased a new position in Rexford Industrial Realty during the fourth quarter valued at $58,595,000. Northern Trust Corp lifted its position in Rexford Industrial Realty by 94.3% during the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock valued at $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after purchasing an additional 1,489,876 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.