Scotiabank Issues Pessimistic Forecast for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price target decreased by Scotiabank from $48.00 to $47.00 in a research note released on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

A number of other equities analysts also recently commented on the stock. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Barclays reduced their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a research note on Monday, January 13th. Mizuho reduced their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $40.00 target price on the stock. 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 stock. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $48.50.

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Rexford Industrial Realty Price Performance

REXR traded down $0.68 during midday trading on Friday, hitting $40.41. 2,748,166 shares of the company traded hands, compared to its average volume of 2,015,537. 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 company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty has a 52-week low of $36.92 and a 52-week high of $53.88. The business has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $43.74.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's payout ratio is currently 142.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $33,000. UMB Bank n.a. lifted its position in shares of Rexford Industrial Realty by 38.9% during the 4th 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 during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of 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 worth $58,000 after buying an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $65,000. Finally, Archer Investment Corp lifted its position in shares of Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust's stock worth $106,000 after buying an additional 800 shares during 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.