Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $38.00 by Analysts at Barclays

Rexford Industrial Realty (NYSE:REXR) had its price objective lowered by Barclays from $41.00 to $38.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

REXR has been the topic of several other reports. Mizuho lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Robert W. Baird lowered their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Scotiabank reduced their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.25.

Rexford Industrial Realty Trading Down 1.1 %

NYSE REXR opened at $39.72 on Tuesday. The company has a market capitalization of $9.05 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $52.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $40.32 and its 200-day simple moving average is $42.59.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.43 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s payout ratio is presently 142.15%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in Rexford Industrial Realty during the fourth quarter worth $33,000. UMB Bank n.a. boosted its position in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Rexford Industrial Realty by 515.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,248 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $65,000. Finally, Quarry LP raised its stake in Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.