Robert W. Baird Trims Rexford Industrial Realty (NYSE:REXR) Target Price to $49.00

Rexford Industrial Realty (NYSE:REXR) had its price objective reduced by Robert W. Baird from $57.00 to $49.00 in a research report report published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

REXR has been the subject of several other reports. Mizuho reissued a neutral rating and set a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Wedbush assumed coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a neutral rating and a $45.00 target price on the stock. Barclays raised their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an underweight rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an overweight rating to a neutral rating and set a $55.00 price objective on the stock. in a research note on Wednesday, February 7th. Finally, TheStreet upgraded Rexford Industrial Realty from a c+ rating to a b- rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $53.36.

Rexford Industrial Realty Stock Performance

REXR opened at $44.42 on Wednesday. The stock’s 50 day simple moving average is $48.38 and its 200-day simple moving average is $50.22. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.68 billion, a PE ratio of 40.75, a P/E/G ratio of 1.85 and a beta of 0.89. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. Sell-side analysts forecast that Rexford Industrial Realty will post 2.35 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s payout ratio is presently 153.21%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors have recently added to or reduced their stakes in REXR. Easterly Investment Partners LLC bought a new stake in Rexford Industrial Realty in the 1st quarter valued at approximately $2,867,000. FORA Capital LLC bought a new stake in shares of Rexford Industrial Realty in the first quarter worth $3,239,000. Daiwa Securities Group Inc. boosted its holdings in Rexford Industrial Realty by 894.0% during the first quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock worth $39,926,000 after purchasing an additional 713,907 shares during the last quarter. BNP Paribas Financial Markets grew its position in Rexford Industrial Realty by 65.2% in the first quarter. BNP Paribas Financial Markets now owns 245,324 shares of the real estate investment trust’s stock valued at $12,340,000 after purchasing an additional 96,833 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Rexford Industrial Realty by 12.8% in the 1st quarter. Van ECK Associates Corp now owns 89,255 shares of the real estate investment trust’s stock valued at $4,490,000 after purchasing an additional 10,118 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Company Profile

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.