Shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $39.79 and last traded at $40.00, with a volume of 17602 shares. The stock had previously closed at $39.92.
Analyst Upgrades and Downgrades
Several research firms have commented on REXR. Bank of America cut shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and lowered their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Mizuho lowered their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Evercore ISI restated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company decreased their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a research note on Wednesday, August 28th. Finally, Truist Financial dropped their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Two investment 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 currently has a consensus rating of "Hold" and a consensus price target of $51.09.
Check Out Our Latest Research Report on REXR
Rexford Industrial Realty Price Performance
The stock has a 50 day moving average of $43.15 and a two-hundred day moving average of $46.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $8.48 billion, a PE ratio of 30.98, a PEG ratio of 1.94 and a beta of 0.93.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm 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% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.
Rexford Industrial Realty Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 4.38%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas acquired a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at about $10,925,000. Franklin Resources Inc. grew its position in Rexford Industrial Realty by 1.1% during the third quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust's stock valued at $38,924,000 after purchasing an additional 9,200 shares in the last quarter. Tidal Investments LLC increased its stake in Rexford Industrial Realty by 22.5% in the 3rd quarter. Tidal Investments LLC now owns 171,433 shares of the real estate investment trust's stock valued at $8,625,000 after buying an additional 31,528 shares during the period. Geode Capital Management LLC lifted its position in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust's stock worth $205,014,000 after buying an additional 74,865 shares in the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter valued at $3,953,000. 99.52% of the stock is owned by institutional investors and hedge funds.
About Rexford Industrial Realty
(
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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.
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