Barclays Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $38.00

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

A number of other research firms have also issued reports on REXR. JPMorgan Chase & Co. lowered their price target 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. Scotiabank cut their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Mizuho lowered their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.83.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR opened at $39.92 on Tuesday. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $52.61. The firm has a market capitalization of $9.10 billion, a P/E ratio of 33.00, a P/E/G 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 $40.35 and its 200 day moving average price is $42.55.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.31%. 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. Rexford Industrial Realty’s dividend payout ratio is 142.15%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UMB Bank n.a. increased its position in 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. IHT Wealth Management LLC increased its position in Rexford Industrial Realty by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 296 shares in the last quarter. Utah Retirement Systems increased its position in Rexford Industrial Realty by 0.8% during the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust’s stock worth $1,392,000 after purchasing an additional 300 shares in the last quarter. CIBC Asset Management Inc raised its stake in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.