Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $53.00 by Analysts at Truist Financial

Rexford Industrial Realty (NYSE:REXR - Free Report) had its price target lowered by Truist Financial from $57.00 to $53.00 in a report released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust's stock.

REXR has been the subject of a number of other research reports. Barclays assumed coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They issued an underweight rating and a $45.00 target price for the company. Robert W. Baird reaffirmed a neutral rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Mizuho restated a neutral rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded 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 raised shares of Rexford Industrial Realty from a c+ rating to a b- rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $55.60.

Rexford Industrial Realty Stock Performance

REXR traded down $0.41 during midday trading on Tuesday, hitting $44.66. 3,999,230 shares of the company traded hands, compared to its average volume of 1,796,117. The company's 50-day moving average is $50.97 and its 200 day moving average is $50.77. Rexford Industrial Realty has a 52 week low of $41.56 and a 52 week high of $58.02. The firm has a market capitalization of $9.61 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.74%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, March 27th. Rexford Industrial Realty's dividend payout ratio is 149.11%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in Rexford Industrial Realty by 139.5% in the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust's stock worth $11,491,000 after buying an additional 135,627 shares in the last quarter. Pacer Advisors Inc. grew its stake in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust's stock valued at $11,647,000 after purchasing an additional 23,510 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Rexford Industrial Realty in the fourth quarter worth about $3,327,000. The Manufacturers Life Insurance Company lifted its position in shares of Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust's stock valued at $15,506,000 after buying an additional 19,981 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Rexford Industrial Realty by 63.9% in the 3rd quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust's stock valued at $5,137,000 after buying an additional 40,587 shares in the last quarter. 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.