Rexford Industrial Realty (NYSE:REXR) Hits New 52-Week Low – Time to Sell?

Rexford Industrial Realty, Inc. (NYSE:REXR) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $41.83 and last traded at $41.86, with a volume of 100772 shares trading hands. The stock had previously closed at $42.76.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $51.45.

Rexford Industrial Realty Stock Performance

The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 34.76, a P/E/G ratio of 2.06 and a beta of 0.94. The company has a 50 day moving average price of $47.76 and a 200 day moving average price of $47.12. 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 issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently modified their holdings of REXR. Fulton Bank N.A. increased its holdings in Rexford Industrial Realty by 4.7% in the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 224 shares in the last quarter. Inspire Investing LLC raised its stake in Rexford Industrial Realty by 4.9% during the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Rexford Industrial Realty by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 337 shares during the period. Victory Capital Management Inc. raised its position in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after buying an additional 345 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

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.