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

Rexford Industrial Realty, Inc. (NYSE:REXR) hit a new 52-week low on Wednesday . The company traded as low as $31.08 and last traded at $31.45, with a volume of 4184449 shares trading hands. The stock had previously closed at $33.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. Scotiabank reduced their target price on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Robert W. Baird dropped their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.17.

Rexford Industrial Realty Price Performance

The stock has a fifty day moving average of $39.58 and a two-hundred day moving average of $41.56. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last issued 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%. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 5.47%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 142.15%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently modified their holdings of REXR. MassMutual Private Wealth & Trust FSB boosted its position 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 purchasing an additional 566 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $33,000. UMB Bank n.a. grew its stake in Rexford Industrial Realty by 38.9% in the 4th 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. increased its holdings in Rexford Industrial Realty by 515.7% during the 4th 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 acquiring 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 worth about $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.