Rexford Industrial Realty (NYSE:REXR) Now Covered by Analysts at Wedbush

Wedbush assumed coverage on shares of Rexford Industrial Realty (NYSE:REXR) in a report published on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $45.00 target price on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on the company. Mizuho reaffirmed a neutral rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Barclays started coverage on Rexford Industrial Realty in a research report on Wednesday, March 27th. They issued an underweight rating and a $45.00 price target for the company. TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1st. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a buy rating for the company in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $54.64.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $43.01 on Monday. The company has a market cap of $9.37 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The business has a fifty day moving average of $50.04 and a two-hundred day moving average of $50.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts predict that Rexford Industrial Realty will post 2.33 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.88%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction 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 is available at the SEC website. 1.10% of the stock is owned by insiders.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of REXR. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $41,000. Fifth Third Bancorp lifted its holdings in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 411 shares in the last quarter. Quarry LP boosted its position in Rexford Industrial Realty by 195.8% during the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 740 shares during the period. Principal Securities Inc. acquired a new stake in Rexford Industrial Realty in the 4th quarter valued at $96,000. Finally, Ninepoint Partners LP purchased a new position in Rexford Industrial Realty in the third quarter valued at about $108,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.