Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $39.00 at Scotiabank

Rexford Industrial Realty (NYSE:REXR) had its price target lowered by Scotiabank from $47.00 to $39.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on REXR. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research report on Tuesday, March 25th. Mizuho lowered their target price 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. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird reduced their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Barclays lowered their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.17.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $33.43 on Monday. The stock’s 50 day moving average is $39.95 and its 200 day moving average is $41.77. Rexford Industrial Realty has a one year low of $32.27 and a one year high of $52.61. The firm has a market cap of $7.62 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, research analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its holdings in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 566 shares in the last quarter. Quantbot Technologies LP bought a new stake in Rexford Industrial Realty during the fourth quarter worth $33,000. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Rexford Industrial Realty by 515.7% during 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 acquiring an additional 1,248 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Rexford Industrial Realty during the 4th quarter worth $65,000. Institutional investors and hedge funds 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.