Rexford Industrial Realty, Inc. (NYSE:REXR) Short Interest Update

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 15,020,000 shares, an increase of 291.1% from the March 15th total of 3,840,000 shares. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is presently 8.5 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on REXR shares. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Mizuho reissued a "neutral" rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Barclays began coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an "underweight" rating and a $45.00 target price on the stock. Truist Financial reduced their target price on Rexford Industrial Realty from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, February 15th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.00.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of REXR. Raymond James Financial Services Advisors Inc. lifted its holdings in Rexford Industrial Realty by 139.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,339 shares of the real estate investment trust's stock worth $547,000 after buying an additional 4,277 shares during the period. Natixis Advisors L.P. purchased a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $882,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Rexford Industrial Realty by 37.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,575 shares of the real estate investment trust's stock valued at $1,087,000 after purchasing an additional 3,978 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 7.5% during the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust's stock valued at $1,693,104,000 after purchasing an additional 1,587,612 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $1,157,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Down 0.6 %

Shares of NYSE REXR traded down $0.30 during trading hours on Thursday, hitting $47.59. The company's stock had a trading volume of 2,504,036 shares, compared to its average volume of 1,776,091. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 42.49, a P/E/G ratio of 2.25 and a beta of 0.86. Rexford Industrial Realty has a 12 month low of $41.56 and a 12 month high of $58.12. The business has a 50-day simple moving average of $51.26 and a 200-day simple moving average of $50.82.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a yield of 3.51%. Rexford Industrial Realty's dividend payout ratio (DPR) is 149.11%.

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.