Rexford Industrial Realty (NYSE:REXR) Stock Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• Shares slipped below their 50-day moving average, trading as low as $37.42 versus the $37.60 average, and last changed hands at $37.575.
• Analysts’ consensus rating is Hold, with an average price target of $41.14; ratings are split among seven Buys, five Holds, and three Sells.
• In its latest quarter, Rexford reported EPS of $0.07, well below the $0.60 consensus, while revenue of $239.1 million topped expectations but fell 5.6% year over year. The REIT also declared a quarterly dividend of $0.435, equivalent to a 4.6% yield.

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $37.60 and traded as low as $37.42. Rexford Industrial Realty shares last traded at $37.5750, with a volume of 1,267,452 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on REXR shares. Weiss Ratings cut shares of Rexford Industrial Realty from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, November 4th. Jefferies Financial Group lowered shares of Rexford Industrial Realty from a "buy" rating to a "hold" rating and set a $40.00 price objective for the company. in a research note on Thursday, August 6th. Evercore reissued an "outperform" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Raymond James Financial upgraded Rexford Industrial Realty from an "underperform" rating to a "market perform" rating in a research report on Tuesday, September 15th. Finally, Wall Street Zen upgraded Rexford Industrial Realty from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.14.

Rexford Industrial Realty Stock Down 0.2%

The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.38. The firm has a market cap of $7.97 billion, a PE ratio of -17.81 and a beta of 1.11. The stock has a fifty day simple moving average of $37.60 and a two-hundred day simple moving average of $36.36.

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

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.4350 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is -82.46%.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC boosted its position in shares of Rexford Industrial Realty by 125.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 700 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 390 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Rexford Industrial Realty during the third quarter valued at about $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Rexford Industrial Realty in the 1st quarter worth approximately $33,000. Allworth Financial LP purchased a new position in shares of Rexford Industrial Realty in the second quarter worth $33,000. Finally, Root Financial Partners LLC bought a new position in shares of Rexford Industrial Realty during the third quarter valued at about $35,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc. is a real estate investment trust that owns, operates, acquires, develops and redevelops industrial properties. Its portfolio primarily serves businesses that need warehouse, distribution, manufacturing and other industrial space. The company focuses on infill markets in Southern California, including Los Angeles, Orange County, San Diego, the Inland Empire and Ventura County. Its strategy centers on properties in established areas with access to customers, workers and transportation networks.

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