Barclays Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by Barclays from $41.00 to $38.00 in a research note released on Tuesday,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on REXR. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price on the stock. Mizuho cut their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Scotiabank cut their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.25.

Rexford Industrial Realty Trading Down 1.1 %

NYSE REXR opened at $39.72 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $40.32 and a 200 day simple moving average of $42.59. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $52.61. The firm has a market capitalization of $9.05 billion, a P/E ratio of 32.83, a PEG ratio of 2.62 and a beta of 0.98.

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 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%. On average, analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.33%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Rexford Industrial Realty in the 3rd quarter worth $2,225,000. Advisors Asset Management Inc. raised its position in Rexford Industrial Realty by 49.5% during the third quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 965 shares in the last quarter. Intech Investment Management LLC lifted its stake in Rexford Industrial Realty by 160.3% during the third quarter. Intech Investment Management LLC now owns 19,161 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 11,800 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Rexford Industrial Realty by 5.6% in the 3rd quarter. Cerity Partners LLC now owns 39,332 shares of the real estate investment trust’s stock worth $1,979,000 after purchasing an additional 2,075 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Rexford Industrial Realty by 9.2% during the 3rd quarter. Fisher Asset Management LLC now owns 66,766 shares of the real estate investment trust’s stock valued at $3,359,000 after buying an additional 5,604 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.