Rexford Industrial Realty (NYSE:REXR) Reaches New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on REXR. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.73.

Rexford Industrial Realty Stock Down 1.8 %

The business has a 50 day simple moving average of $40.76 and a 200-day simple moving average of $45.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results 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). The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.45%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after acquiring an additional 954,202 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rexford Industrial Realty by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after buying an additional 74,865 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Rexford Industrial Realty by 14.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after purchasing an additional 431,659 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Rexford Industrial Realty by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after buying an additional 200,027 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Rexford Industrial Realty by 41.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after buying an additional 938,177 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.