Rexford Industrial Realty (NYSE:REXR) Hits New 1-Year Low After Analyst Downgrade

Rexford Industrial Realty, Inc. (NYSE:REXR) reached a new 52-week low during trading on Tuesday after Truist Financial lowered their price target on the stock from $54.00 to $50.00. Truist Financial currently has a buy rating on the stock. Rexford Industrial Realty traded as low as $41.83 and last traded at $41.86, with a volume of 100772 shares changing hands. The stock had previously closed at $42.76.

REXR has been the topic of a number of other research reports. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Wells Fargo & Company reduced 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. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.09.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds have recently bought and sold shares of REXR. BNP Paribas Financial Markets grew its stake in Rexford Industrial Realty by 5.5% during the third quarter. BNP Paribas Financial Markets now owns 175,658 shares of the real estate investment trust’s stock worth $8,837,000 after purchasing an additional 9,093 shares during the period. FMR LLC boosted its stake in Rexford Industrial Realty by 243.8% during the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after acquiring an additional 195,496 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Rexford Industrial Realty by 5.2% in the 3rd quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust’s stock valued at $3,658,000 after buying an additional 3,604 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Rexford Industrial Realty by 9.2% in the third quarter. Fisher Asset Management LLC now owns 66,766 shares of the real estate investment trust’s stock valued at $3,359,000 after buying an additional 5,604 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Rexford Industrial Realty by 19.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock worth $72,870,000 after acquiring an additional 237,624 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $47.24 and its two-hundred day moving average is $47.07. The firm has a market cap of $9.30 billion, a P/E ratio of 34.01, a PEG ratio of 1.98 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.99%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

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.