Short Interest in Rexford Industrial Realty, Inc. (NYSE:REXR) Drops By 19.5%

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 5,130,000 shares, a drop of 19.5% from the September 30th total of 6,370,000 shares. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on REXR. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. StockNews.com lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, August 28th. Finally, Bank of America downgraded Rexford Industrial Realty from a "buy" rating to a "neutral" rating and cut their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.45.

Rexford Industrial Realty Stock Down 2.8 %

REXR traded down $1.23 on Friday, reaching $43.35. The company's stock had a trading volume of 1,849,382 shares, compared to its average volume of 1,717,407. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 2.13 and a beta of 0.93. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $49.36 and a two-hundred day moving average of $47.18.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the previous year, the company posted $0.56 EPS. The company's quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.85%. Rexford Industrial Realty's dividend payout ratio is presently 153.21%.

Insider Buying and Selling

In other Rexford Industrial Realty 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in REXR. Capital International Investors raised its holdings in shares of Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust's stock valued at $985,411,000 after buying an additional 17,103,653 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust's stock valued at $1,002,654,000 after acquiring an additional 4,197,907 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Rexford Industrial Realty by 262.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust's stock worth $112,536,000 after acquiring an additional 1,620,378 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust's stock worth $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust's stock worth $1,495,668,000 after purchasing an additional 753,098 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

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.