Rexford Industrial Realty (NYSE:REXR) Reaches New 1-Year Low – Time to Sell?

Rexford Industrial Realty, Inc. (NYSE:REXR)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $36.43 and last traded at $36.79, with a volume of 523832 shares changing hands. The stock had previously closed at $39.41.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Scotiabank lowered their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird lowered their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Stock Performance

The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $40.11 and a two-hundred day simple moving average of $42.03.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.96%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REXR. MassMutual Private Wealth & Trust FSB grew its stake in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 566 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $33,000. UMB Bank n.a. increased its stake in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Rexford Industrial Realty in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.