Rexford Industrial Realty (NYSE:REXR) Reaches New 52-Week Low – Here’s Why

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.43 and last traded at $36.79, with a volume of 523832 shares changing hands. The stock had previously closed at $39.41.

Wall Street Analysts Forecast Growth

Several brokerages have commented on REXR. JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Robert W. Baird cut their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Mizuho reduced their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank lowered their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Trading Down 8.8 %

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $8.20 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The business has a fifty day moving average price of $40.32 and a 200 day moving average price of $42.19.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.78%. Rexford Industrial Realty’s payout ratio is 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in Rexford Industrial Realty by 5.2% during the third quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust’s stock valued at $3,658,000 after purchasing an additional 3,604 shares during the last quarter. FMR LLC raised its stake in shares of Rexford Industrial Realty by 243.8% during the 3rd quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after purchasing an additional 195,496 shares in the last quarter. Centiva Capital LP boosted its holdings in shares of Rexford Industrial Realty by 17.3% in the 3rd quarter. Centiva Capital LP now owns 30,992 shares of the real estate investment trust’s stock valued at $1,559,000 after buying an additional 4,562 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Rexford Industrial Realty by 256.6% in the third quarter. HighTower Advisors LLC now owns 57,431 shares of the real estate investment trust’s stock valued at $2,909,000 after buying an additional 41,324 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Rexford Industrial Realty by 4.8% during the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 296 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

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.