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


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Rexford Industrial Realty, Inc. (NYSE:REXR) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,390,000 shares, a drop of 38.2% from the December 15th total of 2,250,000 shares. Based on an average daily trading volume, of 714,300 shares, the short-interest ratio is currently 1.9 days.

NYSE:REXR traded up $0.56 during midday trading on Thursday, reaching $46.98. 744 shares of the company traded hands, compared to its average volume of 767,234. Rexford Industrial Realty has a twelve month low of $31.79 and a twelve month high of $53.48. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 81.00, a price-to-earnings-growth ratio of 9.04 and a beta of 0.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.69 and a quick ratio of 7.69. The company has a fifty day moving average price of $47.89 and a 200 day moving average price of $46.90.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). The company had revenue of $83.86 million for the quarter, compared to analyst estimates of $81.94 million. Rexford Industrial Realty had a net margin of 21.93% and a return on equity of 2.64%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. On average, equities research analysts forecast that Rexford Industrial Realty will post 1.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a $0.215 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.86 annualized dividend and a yield of 1.83%. Rexford Industrial Realty’s payout ratio is 69.92%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc acquired a new position in Rexford Industrial Realty during the 3rd quarter valued at about $69,000. Fifth Third Bancorp lifted its position in shares of Rexford Industrial Realty by 20.2% in the 3rd quarter. Fifth Third Bancorp now owns 2,515 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 423 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Rexford Industrial Realty by 63.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,710 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 1,048 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Rexford Industrial Realty during the 3rd quarter valued at approximately $137,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Rexford Industrial Realty in the second quarter worth $146,000. 98.73% of the stock is owned by institutional investors.

Several research firms have recently weighed in on REXR. Robert W. Baird began coverage on Rexford Industrial Realty in a research note on Tuesday, September 22nd. They issued an “outperform” rating and a $50.00 price objective on the stock. Berenberg Bank began coverage on Rexford Industrial Realty in a research note on Wednesday, October 28th. They issued a “buy” rating and a $56.00 price objective on the stock. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Saturday, January 9th. Finally, BidaskClub lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $48.33.

Rexford Industrial Realty Company Profile

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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