Rexford Industrial Realty, Inc. (NYSE:REXR) Short Interest Up 18.0% in March

Rexford Industrial Realty, Inc. (NYSE:REXR) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,190,000 shares, a growth of 18.0% from the March 15th total of 7,790,000 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its position in shares of Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 566 shares in the last quarter. Quantbot Technologies LP purchased a new position in Rexford Industrial Realty during the 4th quarter valued at about $33,000. UMB Bank n.a. increased its position in shares of Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 978 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 1,248 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Evercore ISI lowered their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday. Mizuho reduced their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Barclays dropped their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.67.

Rexford Industrial Realty Stock Performance

REXR traded down $0.82 during trading on Monday, hitting $31.75. 2,728,859 shares of the company traded hands, compared to its average volume of 1,885,163. The firm has a market cap of $7.50 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a one year low of $29.68 and a one year high of $52.61. The stock’s fifty day moving average is $38.20 and its 200 day moving average is $40.45.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, equities analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 138.71%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.