Rexford Industrial Realty (NYSE:REXR) Shares Gap Down – Should You Sell?

Rexford Industrial Realty, Inc. (NYSE:REXR) gapped down prior to trading on Thursday . The stock had previously closed at $40.77, but opened at $39.00. Rexford Industrial Realty shares last traded at $39.46, with a volume of 251,168 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. Barclays lowered their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Finally, Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $49.42.

Rexford Industrial Realty Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20. The stock has a 50-day moving average price of $39.73 and a two-hundred day moving average price of $44.91. The stock has a market cap of $8.80 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95.

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, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.39 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. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.35%. Rexford Industrial Realty’s dividend payout ratio is presently 138.02%.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. lifted its holdings in shares of Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 280 shares during the last quarter. IHT Wealth Management LLC raised its position 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 valued at $325,000 after purchasing an additional 296 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 371 shares during the period. Finally, Naviter Wealth LLC increased its position in shares of Rexford Industrial Realty by 2.6% during the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 382 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.