JPMorgan Chase & Co. Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $44.00

Rexford Industrial Realty (NYSE:REXR) had its price target cut by JPMorgan Chase & Co. from $45.00 to $44.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other analysts also recently commented on REXR. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Barclays dropped their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.75.

Rexford Industrial Realty Trading Down 0.5 %

Shares of REXR stock opened at $40.39 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.30. Rexford Industrial Realty has a 1 year low of $36.92 and a 1 year high of $53.88. The stock has a fifty day moving average of $39.61 and a two-hundred day moving average of $44.52. The firm has a market capitalization of $8.98 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted 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, research analysts expect that Rexford Industrial Realty will post 2.39 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.26%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s payout ratio is presently 138.02%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Rexford Industrial Realty in the fourth quarter valued at about $33,000. UMB Bank n.a. grew its stake in 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 purchasing an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Rexford Industrial Realty by 515.7% in the fourth 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 in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Rexford Industrial Realty in the fourth quarter valued at about $65,000. Finally, Archer Investment Corp grew its stake in Rexford Industrial Realty by 61.5% in the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other 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.