Rexford Industrial Realty (NYSE:REXR) Sees Strong Trading Volume

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) saw strong trading volume on Wednesday . 1,525,616 shares changed hands during trading, a decline of 5% from the previous session’s volume of 1,611,351 shares.The stock last traded at $49.62 and had previously closed at $48.53.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. Robert W. Baird restated a “neutral” rating and set a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Truist Financial decreased their price target on Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Barclays initiated coverage on Rexford Industrial Realty in a research report on Wednesday. They issued an “underweight” rating and a $45.00 price objective for the company. Finally, TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $56.00.

Rexford Industrial Realty Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 2.15 and a beta of 0.87. The firm has a 50 day simple moving average of $52.35 and a two-hundred day simple moving average of $51.03.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.4175 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.32%. Rexford Industrial Realty’s dividend payout ratio is 149.11%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Rexford Industrial Realty by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after buying an additional 1,235,894 shares during the period. BlackRock Inc. raised its holdings in Rexford Industrial Realty by 4.3% in the 2nd quarter. BlackRock Inc. now owns 25,433,049 shares of the real estate investment trust’s stock valued at $1,328,114,000 after acquiring an additional 1,059,123 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rexford Industrial Realty by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,735,524 shares of the real estate investment trust’s stock worth $882,765,000 after acquiring an additional 1,366,351 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock worth $771,985,000 after acquiring an additional 181,552 shares during the period. Finally, State Street Corp grew its position in shares of Rexford Industrial Realty by 3.4% in the second quarter. State Street Corp now owns 10,875,167 shares of the real estate investment trust’s stock valued at $571,954,000 after purchasing an additional 354,577 shares during the last quarter. 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.