Rexford Industrial Realty (NYSE:REXR) Sees Strong Trading Volume

Rexford Industrial Realty, Inc. (NYSE:REXR) shares saw strong trading volume on Wednesday . 1,525,616 shares were traded during mid-day trading, a decline of 5% from the previous session’s volume of 1,611,351 shares.The stock last traded at $49.62 and had previously closed at $48.53.

Analyst Upgrades and Downgrades

REXR has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Wednesday, February 7th. Robert W. Baird reiterated a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, Barclays began coverage on Rexford Industrial Realty in a report on Wednesday. They set an “underweight” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $56.00.

Rexford Industrial Realty Stock Performance

The company has a fifty day moving average price of $52.35 and a two-hundred day moving average price of $51.03. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 2.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35.

Rexford Industrial Realty Increases Dividend

The firm also recently declared 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. This represents a $1.67 dividend on an annualized basis and a yield of 3.32%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, March 27th. Rexford Industrial Realty’s dividend payout ratio is presently 149.11%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in Rexford Industrial Realty during the 2nd quarter worth approximately $28,000. Quent Capital LLC boosted its position in Rexford Industrial Realty by 594.4% during the 3rd quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 636 shares during the period. GAMMA Investing LLC purchased a new position in Rexford Industrial Realty during the 4th quarter valued at about $41,000. Fifth Third Bancorp increased its holdings in shares of Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in shares of Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 623 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.