Rexford Industrial Realty, Inc. (NYSE:REXR) Sees Significant Decline in Short Interest

Rexford Industrial Realty, Inc. (NYSE:REXR) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 4,930,000 shares, a decline 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 short-interest ratio is currently 2.5 days.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty in the second quarter valued at $41,000. GAMMA Investing LLC grew its holdings in shares of Rexford Industrial Realty by 111.7% during the third 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 last quarter. Archer Investment Corp increased its position 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 worth $106,000 after purchasing an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $129,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Down 0.9 %

REXR stock traded down $0.35 during mid-day trading on Friday, hitting $38.71. 896,459 shares of the company were exchanged, compared to its average volume of 1,760,832. Rexford Industrial Realty has a 12-month low of $37.67 and a 12-month high of $56.99. The firm has a market capitalization of $8.61 billion, a P/E ratio of 31.47, a PEG ratio of 1.94 and a beta of 0.93. The business has a fifty day simple moving average of $41.77 and a 200-day simple moving average of $46.22. 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 (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 firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the prior year, the firm posted $0.56 EPS. Rexford Industrial Realty’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.31%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, 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 report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $51.09.

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.