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

Rexford Industrial Realty, Inc. (NYSE:REXR) saw unusually-high trading volume on Monday . Approximately 466,132 shares changed hands during 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.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on REXR shares. Truist Financial decreased their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Stock Up 1.3 %

The firm’s 50 day moving average price is $41.19 and its two-hundred day moving average price is $46.01. The firm has a market capitalization of $8.79 billion, a PE ratio of 32.15, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same period in the previous year, the company earned $0.56 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

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

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in REXR. JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after acquiring an additional 954,202 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Rexford Industrial Realty by 1.9% in the 3rd 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 shares of Rexford Industrial Realty by 14.8% in the 3rd 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. Dimensional Fund Advisors LP raised its stake in shares of Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Rexford Industrial Realty by 41.9% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after purchasing an additional 938,177 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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.