Rexford Industrial Realty (NYSE:REXR) Shares Gap Down - Here's Why

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $40.77, but opened at $39.00. Rexford Industrial Realty shares last traded at $39.46, with a volume of 251,168 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on REXR. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $40.00 price objective for the company. Mizuho decreased their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. 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. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two 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. According to MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus target price of $49.42.

Rexford Industrial Realty Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.30. The firm has a market cap of $8.97 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.28 and a beta of 0.95. The firm has a 50 day simple moving average of $39.68 and a 200 day simple moving average of $44.78.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts' consensus estimates 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 predict that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 represents a $1.72 annualized dividend and a dividend yield of 4.26%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio is presently 138.02%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently added to or reduced their stakes in REXR. JPMorgan Chase & Co. increased its stake in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rexford Industrial Realty by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust's stock worth $205,014,000 after purchasing an additional 74,865 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust's stock valued at $167,996,000 after purchasing an additional 431,659 shares in the last quarter. PGGM Investments lifted its position in Rexford Industrial Realty by 11.7% during the fourth quarter. PGGM Investments now owns 3,302,781 shares of the real estate investment trust's stock valued at $127,686,000 after purchasing an additional 344,972 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Rexford Industrial Realty by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock worth $107,587,000 after buying an additional 93,360 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

About Rexford Industrial Realty

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.