Rexford Industrial Realty (NYSE:REXR) Reaches New 52-Week Low – What’s Next?

Rexford Industrial Realty, Inc. (NYSE:REXR) shares reached a new 52-week low on Wednesday . The company traded as low as $39.79 and last traded at $40.00, with a volume of 17602 shares traded. The stock had previously closed at $39.92.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on REXR shares. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Mizuho lowered their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Truist Financial lowered their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Trading Up 0.7 %

The company has a 50-day moving average price of $43.15 and a two-hundred day moving average price of $46.57. The stock has a market cap of $8.94 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.15%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its stake in shares of Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC bought a new position in Rexford Industrial Realty in the 2nd quarter worth about $41,000. CWM LLC increased its position in shares of Rexford Industrial Realty by 73.9% during the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 631 shares during the period. Fifth Third Bancorp increased its position in shares of Rexford Industrial Realty by 42.4% during the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 518 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Rexford Industrial Realty by 111.7% during the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 976 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

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.