Rexford Industrial Realty (NYSE:REXR) Downgraded to In-Line Rating by Evercore ISI

Evercore ISI lowered shares of Rexford Industrial Realty (NYSE:REXR - Free Report) from an outperform rating to an in-line rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has $38.00 price target on the real estate investment trust's stock, down from their prior price target of $39.00.

REXR has been the topic of several other research reports. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank decreased their price target on shares of 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. Barclays dropped their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial cut their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Stock Performance

REXR stock traded up $0.44 during midday trading on Friday, hitting $36.95. The company's stock had a trading volume of 3,029,734 shares, compared to its average volume of 2,237,838. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $52.61. The stock's 50-day moving average price is $36.10 and its 200 day moving average price is $37.26. The company has a quick ratio of 4.90, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.35 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same period last year, the firm earned $0.60 EPS. The business's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.66%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company's stock.

Institutional Trading of Rexford Industrial Realty

Several large investors have recently modified their holdings of the business. Utah Retirement Systems grew its stake in shares of Rexford Industrial Realty by 0.8% in the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after buying an additional 300 shares in the last quarter. M&T Bank Corp raised its stake in shares of Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares in the last quarter. Caitlin John LLC boosted its stake in Rexford Industrial Realty by 6.4% during the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust's stock valued at $214,000 after buying an additional 361 shares in the last quarter. Private Trust Co. NA raised its position in shares of Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Rexford Industrial Realty by 2.2% in the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock worth $716,000 after acquiring an additional 388 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.