Robert W. Baird Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $47.00

Rexford Industrial Realty (NYSE:REXR) had its target price lowered by Robert W. Baird from $48.00 to $47.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also commented on REXR. Scotiabank dropped their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target on the stock. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Barclays decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

Rexford Industrial Realty Stock Down 1.5 %

NYSE:REXR opened at $40.77 on Tuesday. The firm has a market capitalization of $9.29 billion, a P/E ratio of 33.69, a PEG ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day moving average price is $39.95 and its 200-day moving average price is $43.70. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 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%. As a group, equities research analysts anticipate that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid 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 dividend yield of 4.22%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently modified their holdings of REXR. International Assets Investment Management LLC lifted its stake in shares of 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 buying an additional 2,563 shares in the last quarter. abrdn plc raised its stake in Rexford Industrial Realty by 9.2% during the third quarter. abrdn plc now owns 42,834 shares of the real estate investment trust’s stock worth $2,155,000 after purchasing an additional 3,602 shares during the period. First Trust Direct Indexing L.P. purchased a new position in Rexford Industrial Realty during the third quarter worth about $228,000. US Bancorp DE raised its stake in Rexford Industrial Realty by 13.8% during the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 653 shares during the period. Finally, Van ECK Associates Corp raised its stake in Rexford Industrial Realty by 15.8% during 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 purchasing an additional 13,709 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

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.