Rexford Industrial Realty, Inc. (NYSE:REXR) Sees Large Increase in Short Interest

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,190,000 shares, a growth of 18.0% from the March 15th total of 7,790,000 shares. Based on an average trading volume of 2,360,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 4.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI cut their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday. Scotiabank reduced their price objective on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, Barclays cut their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $44.00.

Rexford Industrial Realty Trading Up 2.0 %

NYSE REXR traded up $0.66 during mid-day trading on Thursday, reaching $33.73. 2,619,695 shares of the stock were exchanged, compared to its average volume of 1,903,356. The business's fifty day simple moving average is $37.72 and its 200 day simple moving average is $40.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $7.97 billion, a PE ratio of 27.88, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to the consensus estimate of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, research analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 138.71%.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Rexford Industrial Realty by 4.0% in the first quarter. Moran Wealth Management LLC now owns 22,620 shares of the real estate investment trust's stock worth $886,000 after buying an additional 868 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Rexford Industrial Realty by 40.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after acquiring an additional 10,603 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in Rexford Industrial Realty during the first quarter valued at about $422,000. Finally, Retirement Systems of Alabama grew its holdings in Rexford Industrial Realty by 1.2% in the 1st quarter. Retirement Systems of Alabama now owns 595,552 shares of the real estate investment trust's stock valued at $23,316,000 after buying an additional 7,034 shares during the last quarter. Institutional investors 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.