Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $35.00 by Analysts at Barclays

Rexford Industrial Realty (NYSE:REXR) had its price target trimmed by Barclays from $38.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on REXR. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Evercore ISI reduced their price target on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Finally, Mizuho cut their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.73.

Rexford Industrial Realty Stock Down 1.0 %

Shares of REXR opened at $33.05 on Wednesday. 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 firm has a market cap of $7.82 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company’s fifty day moving average is $36.98 and its two-hundred day moving average is $39.76. Rexford Industrial Realty has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is currently 138.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Burford Brothers Inc. acquired a new position in Rexford Industrial Realty in the first quarter worth $609,000. State of Michigan Retirement System lifted its position in Rexford Industrial Realty by 3.6% during the 1st quarter. State of Michigan Retirement System now owns 54,482 shares of the real estate investment trust’s stock worth $2,133,000 after buying an additional 1,900 shares in the last quarter. Cerity Partners LLC increased its position in Rexford Industrial Realty by 27.9% in the 1st quarter. Cerity Partners LLC now owns 51,211 shares of the real estate investment trust’s stock valued at $2,005,000 after acquiring an additional 11,182 shares in the last quarter. M&T Bank Corp raised its stake in shares of Rexford Industrial Realty by 1.2% in the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust’s stock worth $1,052,000 after acquiring an additional 317 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Rexford Industrial Realty by 26.7% during the first quarter. Envestnet Asset Management Inc. now owns 362,822 shares of the real estate investment trust’s stock worth $14,204,000 after purchasing an additional 76,568 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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.