Rexford Industrial Realty (NYSE:REXR) Hits New 1-Year Low – What’s Next?

Rexford Industrial Realty, Inc. (NYSE:REXR) shares hit a new 52-week low on Tuesday . The stock traded as low as $41.83 and last traded at $41.86, with a volume of 100772 shares traded. The stock had previously closed at $42.76.

Analysts Set New Price Targets

Several analysts have recently issued reports on REXR shares. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Mizuho dropped their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.45.

Rexford Industrial Realty Stock Down 2.5 %

The firm has a fifty day moving average of $47.76 and a 200 day moving average of $47.12. The stock has a market cap of $9.28 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

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

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a 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

A number of institutional investors and hedge funds have recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV raised its stake in Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at $26,000. UMB Bank n.a. lifted its holdings 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 last quarter. Headlands Technologies LLC acquired a new stake in Rexford Industrial Realty during the 2nd quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 864 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.