Rexford Industrial Realty, Inc. (NYSE:REXR) Sees Large Decrease in Short Interest

Rexford Industrial Realty, Inc. (NYSE:REXR) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,930,000 shares, a drop of 15.7% from the November 30th total of 5,850,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is currently 2.5 days.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR traded down $0.35 during trading on Friday, hitting $38.71. The stock had a trading volume of 896,459 shares, compared to its average volume of 1,760,832. The stock has a 50-day simple moving average of $41.77 and a two-hundred day simple moving average of $46.22. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty has a 12-month low of $37.67 and a 12-month high of $56.99. 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 data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.31%. Rexford Industrial Realty’s payout ratio is 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently made changes to their positions in REXR. JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Oddo BHF Asset Management Sas acquired a new position in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $10,925,000. Franklin Resources Inc. lifted its position in shares of Rexford Industrial Realty by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust’s stock valued at $38,924,000 after buying an additional 9,200 shares in the last quarter. Tidal Investments LLC grew its stake in 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 acquiring an additional 31,528 shares during the period. Finally, Geode Capital Management LLC increased its holdings 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 acquiring an additional 74,865 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Mizuho reduced their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.09.

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.