Rexford Industrial Realty (NYSE:REXR) Price Target Lowered to $40.00 at Evercore ISI

Rexford Industrial Realty (NYSE:REXR) had its target price decreased by Evercore ISI from $43.00 to $40.00 in a research note published on Monday,Benzinga reports. Evercore ISI currently has an outperform 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 objective 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. Mizuho lowered their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Barclays decreased their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $44.64.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $33.04 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $37.72 and its two-hundred day moving average is $40.23. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty has a 12-month low of $29.68 and a 12-month high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The firm had revenue of $248.82 million during the quarter, compared to analysts’ expectations of $246.74 million. Research analysts expect that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.21%. Rexford Industrial Realty’s dividend payout ratio is currently 138.71%.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock worth $1,157,170,000 after acquiring an additional 562,710 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Rexford Industrial Realty by 26.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Rexford Industrial Realty by 32.3% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock worth $173,667,000 after purchasing an additional 1,097,349 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rexford Industrial Realty by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust’s stock valued at $160,282,000 after purchasing an additional 70,710 shares during the period. Finally, Rush Island Management LP acquired a new position in Rexford Industrial Realty in the fourth quarter valued at $132,701,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.