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

Rexford Industrial Realty, Inc. (NYSE:REXR) saw strong trading volume on Monday . 466,132 shares traded hands 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.

Analyst Upgrades and Downgrades

REXR has been the subject of several research reports. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a report on Friday, October 18th. Mizuho decreased their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.73.

Rexford Industrial Realty Trading Down 0.7 %

The stock has a 50-day moving average of $40.97 and a two-hundred day moving average of $45.94. The company has a market cap of $8.50 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last released 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). The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed 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. This represents a $1.67 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors have recently made changes to their positions in REXR. UMB Bank n.a. raised its stake in shares of Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 447 shares during the period. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC raised its stake in Rexford Industrial Realty by 111.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 976 shares during the period. Archer Investment Corp lifted its holdings in 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 valued at $106,000 after purchasing an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Rexford Industrial Realty during the third quarter valued at approximately $129,000. Institutional investors own 99.52% of the company’s stock.

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.