Rexford Industrial Realty, Inc. (NYSE:REXR) Sees Large Decrease in Short Interest

Rexford Industrial Realty, Inc. (NYSE:REXR) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 4,930,000 shares, a decline of 15.7% from the November 30th total of 5,850,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of REXR. UMB Bank n.a. increased 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 purchasing an additional 447 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter worth $41,000. GAMMA Investing LLC raised its holdings in Rexford Industrial Realty by 111.7% during the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 976 shares during the period. Archer Investment Corp raised 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 acquiring an additional 800 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Rexford Industrial Realty in the third quarter valued at about $129,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

REXR stock traded down $0.33 during trading on Monday, reaching $38.38. The stock had a trading volume of 196,148 shares, compared to its average volume of 1,754,531. The firm has a market cap of $8.54 billion, a PE ratio of 31.20, a PEG ratio of 1.94 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $41.77 and its two-hundred day moving average is $46.23. Rexford Industrial Realty has a 52 week low of $37.67 and a 52 week high of $56.87.

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 for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business 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%. Rexford Industrial Realty’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. As a group, equities analysts anticipate that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on REXR shares. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Mizuho cut 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $51.09.

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.