Mizuho Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $45.00

Rexford Industrial Realty (NYSE:REXR) had its price target cut by Mizuho from $46.00 to $45.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on the company. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.73.

Rexford Industrial Realty Stock Down 2.7 %

Shares of Rexford Industrial Realty stock opened at $37.22 on Wednesday. The firm has a market cap of $8.28 billion, a PE ratio of 30.26, a P/E/G ratio of 1.94 and a beta of 0.95. The business’s 50 day simple moving average is $40.66 and its 200 day simple moving average is $45.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty has a 52-week low of $36.92 and a 52-week high of $56.14.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same period in the prior year, the business earned $0.56 earnings per share. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. On average, analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.49%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC bought a new position in Rexford Industrial Realty during the second quarter worth about $41,000. GAMMA Investing LLC raised its stake in Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 976 shares in the last quarter. Archer Investment Corp boosted its holdings in Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Rexford Industrial Realty during the third quarter worth approximately $129,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.