Rexford Industrial Realty, Inc. (NYSE:REXR – Get Free Report)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $37.37 and traded as low as $36.83. Rexford Industrial Realty shares last traded at $37.1190, with a volume of 2,483,662 shares traded.
Wall Street Analysts Forecast Growth
REXR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Rexford Industrial Realty from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 19th. Evercore reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Jefferies Financial Group lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Rexford Industrial Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.67.
Rexford Industrial Realty Stock Down 3.0%
The firm has a market cap of $8.28 billion, a PE ratio of -17.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 1.70. The business has a fifty day moving average price of $37.37 and a two-hundred day moving average price of $36.48.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The business had revenue of $239.10 million during the quarter, compared to analysts’ expectations of $232.95 million. During the same period in the prior year, the company posted $0.60 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. On average, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.42 EPS for the current fiscal year.
Rexford Industrial Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.4350 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. Rexford Industrial Realty’s dividend payout ratio is currently -82.46%.
Institutional Trading of Rexford Industrial Realty
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Rexford Industrial Realty during the second quarter valued at approximately $1,293,168,000. Dimensional Fund Advisors LP increased its stake in Rexford Industrial Realty by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock valued at $117,239,000 after buying an additional 85,135 shares during the period. Legal & General Group Plc acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $86,861,000. Bank of America Corp DE acquired a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rexford Industrial Realty by 41,558.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock worth $55,431,000 after buying an additional 1,650,693 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.
The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.
Rexford Industrial Realty became a publicly traded company in 2013.
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