Wells Fargo & Company Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price objective trimmed by Wells Fargo & Company from $45.00 to $39.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

REXR has been the subject of a number of other reports. Scotiabank decreased their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a research report on Tuesday, May 6th. Truist Financial decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Barclays decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.00.

Rexford Industrial Realty Trading Down 0.4%

NYSE:REXR opened at $35.59 on Monday. The stock has a 50-day simple moving average of $35.47 and a 200-day simple moving average of $38.74. The stock has a market cap of $8.42 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

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

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed 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. This represents a $1.72 annualized dividend and a yield of 4.83%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is presently 138.71%.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 280 shares in the last quarter. Utah Retirement Systems increased its stake in Rexford Industrial Realty by 0.8% in the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust’s stock valued at $1,392,000 after purchasing an additional 300 shares in the last quarter. M&T Bank Corp grew its holdings in Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust’s stock valued at $1,052,000 after buying an additional 317 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Rexford Industrial Realty by 5.7% during 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 buying an additional 355 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 370 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.