Barclays Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by Barclays from $44.00 to $41.00 in a report published on Monday,Benzinga reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on REXR. Truist Financial decreased 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. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Mizuho decreased their target price on shares of 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.27.

Rexford Industrial Realty Trading Up 3.0 %

Shares of Rexford Industrial Realty stock opened at $38.29 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 12-month low of $36.92 and a 12-month high of $56.14. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.94 and a beta of 0.95. The firm’s 50-day moving average price is $40.56 and its two-hundred day moving average price is $45.76.

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

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.36%. Rexford Industrial Realty’s payout ratio is 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after buying an additional 345 shares during the period. Choreo LLC bought a new position in shares of Rexford Industrial Realty in the 2nd quarter worth about $445,000. Headlands Technologies LLC acquired a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at about $41,000. American Century Companies Inc. lifted its stake in shares of Rexford Industrial Realty by 22.0% in the 2nd quarter. American Century Companies Inc. now owns 77,200 shares of the real estate investment trust’s stock valued at $3,442,000 after purchasing an additional 13,934 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Rexford Industrial Realty by 19.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,672 shares of the real estate investment trust’s stock valued at $3,249,000 after purchasing an additional 12,227 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

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.