Rexford Industrial Realty, Inc. (NYSE:REXR) Short Interest Up 36.3% in July

Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 9,390,000 shares, an increase of 36.3% from the June 30th total of 6,890,000 shares. Approximately 9.8% of the shares of the company are sold short. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is presently 5.7 days.

Rexford Industrial Realty Stock Up 1.2 %

Shares of REXR stock opened at $65.41 on Monday. Rexford Industrial Realty has a 1 year low of $55.84 and a 1 year high of $84.68. The stock has a market cap of $11.19 billion, a PE ratio of 68.85, a price-to-earnings-growth ratio of 3.17 and a beta of 0.73. The business’s fifty day moving average is $60.98 and its 200-day moving average is $68.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.70 and a current ratio of 0.55.

Rexford Industrial Realty (NYSE:REXRGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Rexford Industrial Realty had a net margin of 29.79% and a return on equity of 3.17%. The firm had revenue of $149.12 million for the quarter, compared to analyst estimates of $149.21 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. Equities analysts expect that Rexford Industrial Realty will post 1.93 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 132.63%.

Insider Activity

In related news, CEO Howard Schwimmer sold 16,402 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $62.15, for a total transaction of $1,019,384.30. Following the transaction, the chief executive officer now owns 68,070 shares of the company’s stock, valued at $4,230,550.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Rexford Industrial Realty by 411.2% in the 1st quarter. CWM LLC now owns 455 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 366 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of Rexford Industrial Realty in the 4th quarter worth $41,000. National Bank of Canada FI acquired a new position in shares of Rexford Industrial Realty in the 4th quarter worth $43,000. Quadrant Capital Group LLC grew its holdings in shares of Rexford Industrial Realty by 197.6% in the 1st quarter. Quadrant Capital Group LLC now owns 750 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 498 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Rexford Industrial Realty by 28.7% in the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 162 shares during the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on REXR shares. Wolfe Research started coverage on Rexford Industrial Realty in a research report on Tuesday, June 21st. They issued a “market perform” rating and a $63.00 price objective on the stock. Jefferies Financial Group cut their price objective on Rexford Industrial Realty from $89.00 to $73.00 in a report on Thursday, June 30th. Wells Fargo & Company cut their price objective on Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, June 6th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, Robert W. Baird increased their target price on Rexford Industrial Realty from $87.00 to $89.00 in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.60.

About Rexford Industrial Realty

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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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