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

Rexford Industrial Realty, Inc. (NYSE:REXR) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 12,387,717 shares, a decrease of 12.3% from the December 31st total of 14,123,067 shares. Currently, 5.4% of the company’s stock are short sold. Based on an average daily volume of 2,104,294 shares, the days-to-cover ratio is currently 5.9 days. Based on an average daily volume of 2,104,294 shares, the days-to-cover ratio is currently 5.9 days. Currently, 5.4% of the company’s stock are short sold.

Rexford Industrial Realty Stock Down 0.7%

Shares of NYSE REXR opened at $40.25 on Tuesday. The business has a 50-day moving average of $40.31 and a two-hundred day moving average of $40.47. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 2.55 and a beta of 1.23. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $44.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 2.95.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Rexford Industrial Realty in a research report on Thursday, January 22nd. Industrial Alliance Securities set a $42.00 target price on Rexford Industrial Realty in a report on Wednesday, November 19th. Evercore ISI lowered their target price on Rexford Industrial Realty from $41.00 to $40.00 and set an “in-line” rating for the company in a research note on Monday, December 22nd. Truist Financial reduced their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company lifted their price objective on Rexford Industrial Realty from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $43.00.

Insider Activity

In other news, CEO Michael S. Frankel sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $40.06, for a total value of $751,125.00. Following the completion of the transaction, the chief executive officer owned 583,538 shares of the company’s stock, valued at approximately $23,376,532.28. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 57,118 shares of company stock worth $2,345,706 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REXR. Royal Bank of Canada lifted its position in shares of Rexford Industrial Realty by 3.5% during the 1st quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock worth $9,849,000 after buying an additional 8,506 shares during the last quarter. AQR Capital Management LLC raised its stake in Rexford Industrial Realty by 309.8% during the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock worth $4,628,000 after acquiring an additional 89,390 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Rexford Industrial Realty by 41.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock valued at $70,931,000 after acquiring an additional 526,877 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Rexford Industrial Realty in the second quarter valued at $1,310,000. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Rexford Industrial Realty by 10.0% during the second quarter. KLP Kapitalforvaltning AS now owns 49,400 shares of the real estate investment trust’s stock worth $1,775,000 after purchasing an additional 4,500 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.