Rexford Industrial Realty (NYSE:REXR) Sets New 12-Month Low – Should You Sell?

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a report on Monday, October 21st. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, 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 report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Stock Performance

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 $8.44 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The firm’s 50 day moving average price is $42.80 and its 200-day moving average price is $46.45.

Rexford Industrial Realty (NYSE:REXR) last issued 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 return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 4.40%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Institutional Trading of Rexford Industrial Realty

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. raised its holdings in shares of Rexford Industrial Realty by 164.3% during 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 during the last quarter. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at $41,000. Fifth Third Bancorp raised its stake in Rexford Industrial Realty by 42.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 518 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Rexford Industrial Realty by 111.7% in 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 in the last quarter. Finally, Archer Investment Corp boosted its stake in Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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.