Rexford Industrial Realty (NYSE:REXR) Stock Price Breaks Below 50 Day Moving Average - Should You Sell?

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report)'s stock price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $37.37 and traded as low as $36.83. Rexford Industrial Realty shares last traded at $37.1190, with a volume of 2,483,662 shares.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $44.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. Evercore reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Monday, July 27th. Scotiabank raised their price target on Rexford Industrial Realty from $38.00 to $40.00 and gave the stock a "sector outperform" rating in a report on Monday, August 31st. Finally, Mizuho upgraded Rexford Industrial Realty from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $38.00 to $41.00 in a research report on Tuesday, October 13th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average price target of $40.67.

Rexford Industrial Realty Price Performance

The firm has a market capitalization of $8.28 billion, a P/E ratio of -17.59 and a beta of 1.18. The business has a fifty day moving average of $37.37 and a 200-day moving average of $36.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.70 and a current ratio of 4.08.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. During the same period in the previous year, the firm earned $0.60 EPS. The firm's revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.42 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.4350 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is -82.46%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. bought a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at about $2,180,000. Asset Management One Co. Ltd. increased its holdings in shares of Rexford Industrial Realty by 1.2% in the third quarter. Asset Management One Co. Ltd. now owns 311,893 shares of the real estate investment trust's stock valued at $11,312,000 after buying an additional 3,823 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Rexford Industrial Realty by 29.3% in the third quarter. Signaturefd LLC now owns 6,520 shares of the real estate investment trust's stock valued at $236,000 after buying an additional 1,476 shares in the last quarter. Lantern Wealth Advisors LLC lifted its position in shares of Rexford Industrial Realty by 21.2% during the 3rd quarter. Lantern Wealth Advisors LLC now owns 10,300 shares of the real estate investment trust's stock valued at $374,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Rexford Industrial Realty by 102.7% during the 3rd quarter. Inspire Investing LLC now owns 49,344 shares of the real estate investment trust's stock valued at $1,790,000 after acquiring an additional 25,001 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc NYSE: REXR is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region's established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.

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