Rexford Industrial Realty (NYSE:REXR) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an underweight rating and a $45.00 price objective on the real estate investment trust’s stock.

A number of other research firms have also commented on REXR. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price target on the stock. in a research report on Wednesday, February 7th. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a buy rating on the stock in a research report on Thursday, February 15th. Robert W. Baird restated a neutral rating and issued a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of Hold and an average price target of $56.00.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $50.30 on Wednesday. The stock has a market cap of $10.82 billion, a P/E ratio of 44.91, a PEG ratio of 2.15 and a beta of 0.87. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $60.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $52.25 and its 200 day simple moving average is $51.02.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio is presently 149.11%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction that occurred 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 can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently bought and sold shares of REXR. Quarry LP acquired a new position in Rexford Industrial Realty in the second quarter valued at approximately $28,000. Quent Capital LLC lifted its holdings in Rexford Industrial Realty by 594.4% in the third quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 636 shares during the period. GAMMA Investing LLC acquired a new position in Rexford Industrial Realty in the fourth quarter valued at approximately $41,000. Fifth Third Bancorp lifted its holdings in Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 411 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 623 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.