Rexford Industrial Realty (NYSE:REXR) Given New $38.00 Price Target at Barclays

Rexford Industrial Realty (NYSE:REXR) had its price target lowered by Barclays from $41.00 to $38.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

REXR has been the topic of a number of other research reports. Robert W. Baird decreased their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. 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 for the company. Mizuho decreased their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank dropped their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $39.92 on Tuesday. The stock has a fifty day moving average price of $40.35 and a 200 day moving average price of $42.55. Rexford Industrial Realty has a 52 week low of $36.92 and a 52 week high of $52.61. The firm has a market capitalization of $9.10 billion, a P/E ratio of 33.00, a PEG ratio of 2.62 and a beta of 0.98. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data 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 net margin of 29.10% and a return on equity of 3.26%. Equities research analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid 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 4.31%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $33,000. UMB Bank n.a. grew its position in shares of Rexford Industrial Realty by 38.9% during the fourth 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. increased its stake in shares of Rexford Industrial Realty by 515.7% in the fourth 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 acquired a new stake in Rexford Industrial Realty in the fourth quarter valued at $65,000. Finally, SRS Capital Advisors Inc. raised its holdings in Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,709 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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.