Rexford Industrial Realty (NYSE:REXR) Stock Gets Price Target Trim from Cantor Fitzgerald

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by Cantor Fitzgerald from $45.00 to $44.00 in a research note released on Monday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also commented on the company. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 1st. Citigroup reaffirmed a “neutral” rating on shares of Rexford Industrial Realty in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Rexford Industrial Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Mizuho raised shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $38.00 to $41.00 in a research note on Tuesday, October 13th. Finally, Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.67.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $37.12 on Monday. Rexford Industrial Realty has a twelve month low of $32.14 and a twelve month high of $42.41. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $37.37 and a two-hundred day simple moving average of $36.48. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of -17.59 and a beta of 1.18.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.53). The company had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Analysts forecast that Rexford Industrial Realty will post 2.42 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.4350 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.74 annualized dividend and a dividend yield of 4.7%. Rexford Industrial Realty’s dividend payout ratio is presently -82.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. purchased a new stake in Rexford Industrial Realty in the 3rd quarter worth approximately $2,180,000. Asset Management One Co. Ltd. increased its stake in Rexford Industrial Realty by 1.2% in the third quarter. Asset Management One Co. Ltd. now owns 311,893 shares of the real estate investment trust’s stock valued at $11,312,000 after acquiring an additional 3,823 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Rexford Industrial Realty by 29.3% in the 3rd quarter. Signaturefd LLC now owns 6,520 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 1,476 shares in the last quarter. Lantern Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 21.2% during the 3rd quarter. Lantern Wealth Advisors LLC now owns 10,300 shares of the real estate investment trust’s stock valued at $374,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of Rexford Industrial Realty by 102.7% during the 3rd quarter. Inspire Investing LLC now owns 49,344 shares of the real estate investment trust’s stock valued at $1,790,000 after purchasing an additional 25,001 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.