Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $51.27 and last traded at $51.31, with a volume of 2807 shares traded. The stock had previously closed at $53.02.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Rexford Industrial Realty from $89.00 to $73.00 in a research report on Thursday, June 30th. Wolfe Research assumed coverage on shares of Rexford Industrial Realty in a research report on Tuesday, June 21st. They set a "market perform" rating and a $63.00 target price for the company. Wells Fargo & Company upped their target price on shares of Rexford Industrial Realty from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, August 11th. Robert W. Baird upped their target price on shares of Rexford Industrial Realty from $87.00 to $89.00 in a research report on Friday, July 22nd. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of "Hold" and an average target price of $77.80.
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Rexford Industrial Realty Stock Down 4.3 %
The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company's 50-day simple moving average is $63.04 and its 200 day simple moving average is $66.22. The firm has a market cap of $8.68 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.
Rexford Industrial Realty (NYSE:REXR – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Rexford Industrial Realty had a net
margin of 29.79% and a return on equity of 3.17%. The business had revenue of $149.12 million for the quarter, compared to the consensus estimate of $149.21 million. During the same quarter last year, the business earned $0.39 EPS. Rexford Industrial Realty's revenue for the quarter was up 42.9% compared to the same quarter last year. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 1.93 EPS for the current fiscal year.
Rexford Industrial Realty Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.26 annualized dividend and a dividend yield of 2.48%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 132.63%.
Insider Transactions at Rexford Industrial Realty
In other news, CEO Howard Schwimmer sold 15,350 shares of the firm's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $65.27, for a total value of $1,001,894.50. Following the completion of the sale, the chief executive officer now owns 52,720 shares in the company, valued at approximately $3,441,034.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.50% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in REXR. CWM LLC boosted its stake in Rexford Industrial Realty by 411.2% in the 1st quarter. CWM LLC now owns 455 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 366 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Rexford Industrial Realty by 197.6% during the 1st quarter. Quadrant Capital Group LLC now owns 750 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 498 shares in the last quarter. Assetmark Inc. increased its holdings in Rexford Industrial Realty by 3,367.9% in the 2nd quarter. Assetmark Inc. now owns 971 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 943 shares in the last quarter. Archer Investment Corp purchased a new stake in Rexford Industrial Realty in the 1st quarter worth $60,000. Finally, JJJ Advisors Inc. increased its holdings in Rexford Industrial Realty by 38.9% in the 1st quarter. JJJ Advisors Inc. now owns 1,124 shares of the real estate investment trust's stock worth $84,000 after acquiring an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 99.50% of the company's stock.
Rexford Industrial Realty Company Profile
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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
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