Truist Financial Lowers Rexford Industrial Realty (NYSE:REXR) Price Target to $50.00

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by Truist Financial from $54.00 to $50.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

REXR has been the topic of a number of other reports. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Mizuho reduced their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Stock Up 0.6 %

NYSE:REXR opened at $42.01 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty has a 52-week low of $41.16 and a 52-week high of $58.02. The company has a market cap of $9.34 billion, a PE ratio of 34.15, a PEG ratio of 2.00 and a beta of 0.94. The stock has a 50-day simple moving average of $46.92 and a 200 day simple moving average of $47.02.

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 for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. On average, sell-side analysts expect 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.98%. Rexford Industrial Realty’s dividend payout ratio is currently 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 on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares during the period. Capital International Investors raised its holdings in shares of Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in shares of Rexford Industrial Realty by 1.1% during the 1st quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after purchasing an additional 42,632 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

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.