Rexford Industrial Realty (NYSE:REXR) Reaches New 12-Month High at $53.15

Rexford Industrial Realty, Inc. (NYSE:REXR)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $53.15 and last traded at $52.95, with a volume of 1589 shares trading hands. The stock had previously closed at $52.63.

Several research analysts have weighed in on the company. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, March 26th. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.50.

The company has a current ratio of 6.45, a quick ratio of 6.46 and a debt-to-equity ratio of 0.32. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 90.74, a price-to-earnings-growth ratio of 5.10 and a beta of 0.59. The stock has a fifty day moving average price of $49.65 and a 200 day moving average price of $48.77.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.23). Rexford Industrial Realty had a net margin of 26.29% and a return on equity of 3.14%. The company had revenue of $88.65 million for the quarter, compared to analyst estimates of $88.19 million. During the same period in the prior year, the company posted $0.32 EPS. The business’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 1.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be paid a dividend of $0.24 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $0.96 annualized dividend and a yield of 1.81%. Rexford Industrial Realty’s dividend payout ratio is presently 78.05%.

A number of large investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its stake in Rexford Industrial Realty by 4.8% during the 4th quarter. M&T Bank Corp now owns 6,671 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 304 shares during the period. Redpoint Investment Management Pty Ltd lifted its position in shares of Rexford Industrial Realty by 4.0% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 8,495 shares of the real estate investment trust’s stock worth $417,000 after acquiring an additional 328 shares during the period. WCM Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 0.3% in the 4th quarter. WCM Investment Management LLC now owns 170,709 shares of the real estate investment trust’s stock worth $8,384,000 after acquiring an additional 514 shares during the period. Toronto Dominion Bank lifted its position in shares of Rexford Industrial Realty by 2.0% in the 4th quarter. Toronto Dominion Bank now owns 29,182 shares of the real estate investment trust’s stock worth $1,433,000 after acquiring an additional 571 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.

About Rexford Industrial Realty (NYSE:REXR)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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