Rexford Industrial Realty (NYSE:REXR) Reaches New 52-Week Low on Analyst Downgrade

Rexford Industrial Realty, Inc. (NYSE:REXR) hit a new 52-week low during trading on Tuesday after Truist Financial lowered their price target on the stock from $54.00 to $50.00. Truist Financial currently has a buy rating on the stock. Rexford Industrial Realty traded as low as $41.83 and last traded at $41.86, with a volume of 100772 shares trading hands. The stock had previously closed at $42.76.

A number of other brokerages have also weighed in on REXR. JPMorgan Chase & Co. increased their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Wells Fargo & Company dropped their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.09.

Insider Transactions at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 349 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Rexford Industrial Realty during the second quarter valued at about $26,000. UMB Bank n.a. boosted 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 worth $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC bought a new stake in shares of Rexford Industrial Realty in the second quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 864 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Price Performance

The firm has a market cap of $9.30 billion, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 1.98 and a beta of 0.94. The business has a 50-day simple moving average of $47.24 and a 200 day simple moving average of $47.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. On average, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.99%. Rexford Industrial Realty’s payout ratio is 135.77%.

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.