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

Rexford Industrial Realty, Inc. (NYSE:REXR)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $39.79 and last traded at $40.00, with a volume of 17602 shares. The stock had previously closed at $39.92.

Analysts Set New Price Targets

REXR has been the subject of a number of analyst reports. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Trading Down 0.4 %

The stock has a market capitalization of $8.44 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.94 and a beta of 0.93. The stock’s 50 day moving average price is $42.80 and its 200-day moving average price is $46.45. 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 results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (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 during the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the prior year, the business posted $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 expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Trading of Rexford Industrial Realty

Institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new stake in Rexford Industrial Realty in the third quarter valued at about $10,925,000. Franklin Resources Inc. increased its holdings in shares of Rexford Industrial Realty by 1.1% during the third quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust’s stock valued at $38,924,000 after acquiring an additional 9,200 shares in the last quarter. Tidal Investments LLC raised its position in shares of Rexford Industrial Realty by 22.5% in the 3rd quarter. Tidal Investments LLC now owns 171,433 shares of the real estate investment trust’s stock valued at $8,625,000 after purchasing an additional 31,528 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after purchasing an additional 74,865 shares in the last quarter. Finally, Vestcor Inc purchased a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $3,953,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.