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

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price objective decreased by Scotiabank from $47.00 to $39.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

Several other equities research analysts also recently weighed in on REXR. Barclays dropped their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective for the company. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Mizuho reduced their price objective 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $46.17.

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Rexford Industrial Realty Stock Up 1.6 %

NYSE:REXR traded up $0.50 on Monday, reaching $32.44. The stock had a trading volume of 3,730,293 shares, compared to its average volume of 1,920,856. The company has a 50-day moving average of $38.98 and a 200 day moving average of $41.11. 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 stock has a market cap of $7.40 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty has a 12-month low of $29.68 and a 12-month high of $52.61.

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 EPS for the quarter, beating 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 predict that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 5.30%. Rexford Industrial Realty's payout ratio is currently 142.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in REXR. MassMutual Private Wealth & Trust FSB raised its stake in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 566 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Rexford Industrial Realty during the 4th quarter worth about $33,000. UMB Bank n.a. raised 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 in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Rexford Industrial Realty by 515.7% in 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 acquiring an additional 1,248 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds 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.