Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.43 and last traded at $36.79, with a volume of 523832 shares. The stock had previously closed at $39.41.
Analyst Ratings Changes
REXR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Monday. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Robert W. Baird lowered their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $46.17.
Check Out Our Latest Research Report on REXR
Rexford Industrial Realty Trading Down 5.9 %
The firm's 50 day moving average price is $39.95 and its 200 day moving average price is $41.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $7.17 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.62 and a beta of 0.99.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.
Rexford Industrial Realty Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change 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 payout ratio is 142.15%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rush Island Management LP purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at approximately $132,701,000. Norges Bank acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $104,685,000. Long Pond Capital LP purchased a new stake in Rexford Industrial Realty during the 4th quarter worth about $58,595,000. Northern Trust Corp raised its stake in Rexford Industrial Realty by 94.3% in the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after buying an additional 1,506,779 shares in the last quarter. Finally, Resolution Capital Ltd acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at $52,025,000. Hedge funds and other institutional investors own 99.52% of the company's stock.
About Rexford Industrial Realty
(
Get Free Report)
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.
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