Rexford Industrial Realty (NYSE:REXR) now covered by analysts at Wedbush

Wedbush assumed coverage on shares of Rexford Industrial Realty (NYSE:REXR – Free Report) in a report published Monday morning, Marketbeat reports. The company issued a neutral rating and a $45.00 target price on the real estate investment trust’s shares.

Several other stock analysts have also recently weighed in on the company. Mizuho reaffirmed a neutral rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2. Barclays began coverage on Rexford Industrial Realty in a research report on Wednesday, March 27. They issued an underweight rating and a $45.00 price target for the company. TheStreet upgraded shares of Rexford Industrial Realty from a c+ rating to a b- rating in a research report on Thursday, February 1. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the company in a report on Tuesday, April 16. Finally, JPMorgan Chase & Co. shares of Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 target price for the company. in a research report on Wednesday, February 7. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $54.64.

Get our latest analysis on REXR

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty opened at $43.01 on Monday. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 39.46, a price-to-earnings growth ratio of 1.89 and a beta of 0.86. Rexford Industrial Realty has a one-year low of $41.56 and a one-year high of $58.02. The company has a fifty-day moving average of $50.04 and a two-hundred-day moving average of $50.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last reported its quarterly earnings data on Thursday, April 18. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. In the same quarter last year, the company earned earnings per share of $0.52. The company’s revenue for the quarter increased 15.0% year over year. As a group, analysts predict that Rexford Industrial Realty will post earnings per share of 2.33 for the current fiscal year.

Rexford Industrial Realty cuts dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15. Investors of record on Friday, June 28 will receive a dividend of $0.417 per share. The ex-dividend date is Friday, June 28. This represents a dividend of $1.67 annually and a yield of 3.88%. Rexford Industrial Realty’s dividend payout ratio (DPR) currently stands at 153.21%.

Insider activity at Rexford Industrial Realty

In other Rexford Industrial Realty news: General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12. The shares sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the SEC and available on the SEC website. 1.10% of the shares are owned by insiders.

Institutional trading in Rexford Industrial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of REXR. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty during the fourth quarter valued at approximately $41,000. Fifth Third Bancorp increased its holdings in shares of Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust valued at $55,000 after acquiring an additional 411 shares in the last quarter. Quarry LP strengthened its position in Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust worth $63,000 after purchasing an additional 740 shares during the period. Principal Securities Inc. acquired a new stake in Rexford Industrial Realty worth $96,000 in the 4th quarter. Finally, Ninepoint Partners LP bought a new position in Rexford Industrial Realty in the third quarter worth approximately $108,000. Institutional investors and hedge funds own 99.52% of the company’s shares.

Rexford Industrial Realty Company Profile

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

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