Rexford Industrial Realty (NYSE:REXR) Hits New 12-Month Low – Here’s Why

Rexford Industrial Realty, Inc. (NYSE:REXR) shares 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. The stock had previously closed at $38.25.

Analyst Upgrades and Downgrades

Several research firms recently commented on REXR. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $49.00 in a report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Two equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.73.

Rexford Industrial Realty Trading Down 2.7 %

The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business’s fifty day simple moving average is $40.66 and its 200 day simple moving average is $45.79.

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 the consensus estimate 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 firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the firm posted $0.56 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.49%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 345 shares in the last quarter. Choreo LLC bought a new stake in Rexford Industrial Realty in the second quarter worth about $445,000. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty in the second quarter worth about $41,000. American Century Companies Inc. raised its holdings in Rexford Industrial Realty by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 77,200 shares of the real estate investment trust’s stock worth $3,442,000 after buying an additional 13,934 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Rexford Industrial Realty by 19.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,672 shares of the real estate investment trust’s stock worth $3,249,000 after buying an additional 12,227 shares during the period. 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.