Short Interest in Rexford Industrial Realty, Inc. (NYSE:REXR) Decreases By 51.8%

Rexford Industrial Realty, Inc. (NYSE:REXR) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 4,250,000 shares, a decrease of 51.8% from the December 15th total of 8,810,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 3.8 days.

In related news, CEO Michael S. Frankel sold 115,000 shares of the company’s stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $69.66, for a total transaction of $8,010,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. bought a new stake in Rexford Industrial Realty during the 3rd quarter worth about $26,000. Advisory Services Network LLC acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $56,000. FNY Investment Advisers LLC acquired a new position in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $64,000. Exchange Traded Concepts LLC acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $128,000. Finally, Assetmark Inc. boosted its position in shares of Rexford Industrial Realty by 9.3% during the 2nd quarter. Assetmark Inc. now owns 2,378 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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Shares of Rexford Industrial Realty stock opened at $74.04 on Friday. Rexford Industrial Realty has a twelve month low of $45.90 and a twelve month high of $81.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 110.51, a PEG ratio of 2.96 and a beta of 0.70. The business’s 50 day simple moving average is $74.25 and its 200-day simple moving average is $65.60.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.11. The business had revenue of $115.40 million during the quarter, compared to analyst estimates of $111.08 million. Rexford Industrial Realty had a return on equity of 2.97% and a net margin of 26.46%. Rexford Industrial Realty’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts predict that Rexford Industrial Realty will post 1.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, December 30th. Rexford Industrial Realty’s payout ratio is 143.28%.

REXR has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded Rexford Industrial Realty from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $78.00 to $84.00 in a research note on Monday, December 20th. Wells Fargo & Company upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $83.00 target price on the stock in a research report on Tuesday, December 14th. Finally, Robert W. Baird restated an “outperform” rating and issued a $82.00 price objective (up previously from $74.00) on shares of Rexford Industrial Realty in a research report on Monday, October 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $75.80.

Rexford Industrial Realty Company Profile

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

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