Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $45.00 by Analysts at Mizuho

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by Mizuho from $46.00 to $45.00 in a report published on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on REXR. Truist Financial reduced their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.73.

Rexford Industrial Realty Trading Down 2.7 %

Shares of Rexford Industrial Realty stock opened at $37.22 on Wednesday. The firm’s 50-day moving average price is $40.66 and its two-hundred day moving average price is $45.78. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 12-month low of $36.92 and a 12-month high of $56.14.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same period last year, the business earned $0.56 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares during the period. Choreo LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at about $445,000. United Services Automobile Association boosted its position in shares of Rexford Industrial Realty by 3.2% during the 2nd quarter. United Services Automobile Association now owns 17,121 shares of the real estate investment trust’s stock worth $763,000 after purchasing an additional 531 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at about $41,000. Finally, American Century Companies Inc. increased its position in Rexford Industrial Realty by 22.0% in the 2nd quarter. American Century Companies Inc. now owns 77,200 shares of the real estate investment trust’s stock valued at $3,442,000 after buying an additional 13,934 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

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.