Rexford Industrial Realty (NYSE:REXR) Shares Gap Down – Here’s Why

Rexford Industrial Realty, Inc. (NYSE:REXR)’s share price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on REXR shares. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Mizuho dropped 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, January 8th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.42.

Rexford Industrial Realty Trading Down 2.5 %

The stock’s 50 day simple moving average is $39.73 and its two-hundred day simple moving average is $44.91. The stock has a market capitalization of $8.80 billion, a PE ratio of 32.69, a PEG ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS 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%. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.35%. Rexford Industrial Realty’s dividend payout ratio is presently 138.02%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently modified their holdings of the business. UMB Bank n.a. grew its stake in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 447 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rexford Industrial Realty by 111.7% in the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 976 shares during the period. Archer Investment Corp grew its position in shares of Rexford Industrial Realty by 61.5% in the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Rexford Industrial Realty by 13.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.