Rexford Industrial Realty, Inc. (NYSE:REXR) Short Interest Update

Rexford Industrial Realty, Inc. (NYSE:REXR) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 4,930,000 shares, a drop of 15.7% from the November 30th total of 5,850,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 447 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC lifted its position in shares of Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 976 shares during the period. Archer Investment Corp boosted its stake in shares of Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Rexford Industrial Realty during the third quarter valued at approximately $129,000. 99.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. Mizuho dropped their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Trading Down 0.9 %

Shares of NYSE:REXR traded down $0.33 during trading hours on Monday, hitting $38.38. 196,148 shares of the company’s stock traded hands, compared to its average volume of 1,754,531. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business has a fifty day moving average price of $41.77 and a 200-day moving average price of $46.23. Rexford Industrial Realty has a 1 year low of $37.67 and a 1 year high of $56.87. The firm has a market capitalization of $8.54 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same period last year, the company earned $0.56 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. Equities analysts expect that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.35%. Rexford Industrial Realty’s payout ratio is 135.77%.

Rexford Industrial Realty Company Profile

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.