Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $47.00 by Analysts at Robert W. Baird

Rexford Industrial Realty (NYSE:REXR - Free Report) had its target price trimmed by Robert W. Baird from $48.00 to $47.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

A number of other research analysts have also weighed in on REXR. Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $40.00 price target on the stock. Truist Financial reduced their price target on 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. Scotiabank reduced their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Mizuho reduced their price target on 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. Finally, Barclays dropped their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $48.50.

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Rexford Industrial Realty Price Performance

REXR stock traded down $0.27 on Tuesday, reaching $40.47. The company had a trading volume of 2,364,480 shares, compared to its average volume of 2,008,309. Rexford Industrial Realty has a 1 year low of $36.92 and a 1 year high of $53.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The company's fifty day moving average is $39.98 and its 200 day moving average is $43.63. The company has a market cap of $9.23 billion, a P/E ratio of 33.45, a PEG ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) 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 return on equity of 3.26% and a net margin of 29.10%. On average, research analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.43 dividend. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio is currently 142.15%.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently added to or reduced their stakes in REXR. International Assets Investment Management LLC lifted its holdings in Rexford Industrial Realty by 4,835.8% in the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust's stock worth $132,000 after acquiring an additional 2,563 shares during the last quarter. abrdn plc lifted its holdings in Rexford Industrial Realty by 9.2% in the third quarter. abrdn plc now owns 42,834 shares of the real estate investment trust's stock worth $2,155,000 after acquiring an additional 3,602 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in Rexford Industrial Realty in the third quarter worth about $228,000. US Bancorp DE lifted its holdings in Rexford Industrial Realty by 13.8% in the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust's stock worth $272,000 after acquiring an additional 653 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Rexford Industrial Realty by 15.8% in the third quarter. Van ECK Associates Corp now owns 100,722 shares of the real estate investment trust's stock worth $5,067,000 after acquiring an additional 13,709 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.