Rexford Industrial Realty (NYSE:REXR) Given New $50.00 Price Target at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its target price trimmed by Truist Financial from $54.00 to $50.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Down 0.3 %

REXR stock opened at $41.74 on Tuesday. Rexford Industrial Realty has a 52 week low of $41.16 and a 52 week high of $58.02. The business has a 50-day simple moving average of $47.24 and a 200 day simple moving average of $47.07. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.28 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.00 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in Rexford Industrial Realty in the 3rd quarter worth approximately $1,958,000. Verition Fund Management LLC boosted its stake in shares of Rexford Industrial Realty by 0.5% in the 3rd quarter. Verition Fund Management LLC now owns 215,695 shares of the real estate investment trust’s stock valued at $10,852,000 after purchasing an additional 1,144 shares in the last quarter. Infrastructure Capital Advisors LLC grew its holdings in shares of Rexford Industrial Realty by 18.9% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 27,927 shares of the real estate investment trust’s stock valued at $1,405,000 after purchasing an additional 4,436 shares during the last quarter. Isthmus Partners LLC raised its position in Rexford Industrial Realty by 17.2% in the 3rd quarter. Isthmus Partners LLC now owns 6,418 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 942 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rexford Industrial Realty by 338.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after purchasing an additional 1,489,876 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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.