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

Rexford Industrial Realty, Inc. (NYSE:REXR) shares reached a new 52-week low during trading on Friday . The company traded as low as $37.66 and last traded at $37.66, with a volume of 4961 shares. The stock had previously closed at $38.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on REXR. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Truist Financial lowered their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Mizuho lowered 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.73.

Rexford Industrial Realty Price Performance

The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $40.76 and a 200 day moving average of $45.83.

Rexford Industrial Realty (NYSE:REXR) last posted 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). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter last year, the company earned $0.56 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Institutional Trading of Rexford Industrial Realty

Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in shares of Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new position in Rexford Industrial Realty during the 2nd quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of Rexford Industrial Realty by 111.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 976 shares during the period. Archer Investment Corp raised its stake in shares of Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at $129,000. 99.52% of the stock is currently 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.