Rexford Industrial Realty (NYSE:REXR) Sees Unusually-High Trading Volume – Should You Buy?

Rexford Industrial Realty, Inc. (NYSE:REXR) shares saw unusually-high trading volume on Monday . Approximately 466,132 shares were traded during mid-day trading, a decline of 44% from the previous session’s volume of 827,593 shares.The stock last traded at $39.34 and had previously closed at $39.02.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial dropped their price target 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. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their target price for the company from $66.00 to $49.00 in a report on Monday, October 21st. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $48.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Price Performance

The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.94 and a beta of 0.95. The company’s 50 day moving average is $41.19 and its 200 day moving average is $46.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after acquiring an additional 1,489,876 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Rexford Industrial Realty by 26.9% during 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 purchasing an additional 954,202 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after buying an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Rexford Industrial Realty by 38.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after buying an additional 800,137 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Rexford Industrial Realty by 52.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock valued at $53,990,000 after buying an additional 417,037 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.