Rexford Industrial Realty (NYSE:REXR) Reaches New 52-Week Low – Here’s Why

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.43 and last traded at $36.79, with a volume of 523832 shares changing hands. The stock had previously closed at $39.41.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on REXR. Mizuho cut their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective for the company. Scotiabank decreased their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Robert W. Baird reduced their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Trading Down 8.8 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50-day moving average is $40.32 and its 200 day moving average is $42.19. The firm has a market capitalization of $8.20 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.78%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of REXR. MassMutual Private Wealth & Trust FSB grew its stake in Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 566 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $33,000. UMB Bank n.a. increased its stake in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 280 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds 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.