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

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,190,000 shares, a growth of 18.0% from the March 15th total of 7,790,000 shares. Approximately 4.1% of the shares of the stock are short sold. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is currently 3.9 days.

Rexford Industrial Realty Trading Down 2.0 %

Shares of REXR traded down $0.67 during mid-day trading on Friday, reaching $33.09. The stock had a trading volume of 2,253,503 shares, compared to its average volume of 1,904,967. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The business's fifty day moving average is $37.43 and its 200 day moving average is $40.04. Rexford Industrial Realty has a 52-week low of $29.68 and a 52-week high of $52.61. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The business had revenue of $248.82 million during the quarter, compared to the consensus estimate of $246.74 million. On average, sell-side analysts predict that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio is presently 138.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank lowered their price target on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Barclays decreased their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 25th. Robert W. Baird dropped their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $44.00.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of REXR. Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after acquiring an additional 562,710 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rexford Industrial Realty by 26.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 32.3% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after purchasing an additional 1,097,349 shares during the last quarter. Geode Capital Management LLC raised its position in Rexford Industrial Realty by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after purchasing an additional 70,710 shares during the period. Finally, Rush Island Management LP acquired a new position in Rexford Industrial Realty during the fourth quarter worth $132,701,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.