Rexford Industrial Realty Inc. [NYSE: REXR] slipped around -1.24 points on Thursday, while shares priced at $58.92 at the close of the session, down -2.06%. The company report on September 23, 2021 that Rexford Industrial Realty, Inc. Announces Pricing Of Public Offering Of 9,600,000 Shares Of Common Stock.
Rexford Industrial Realty, Inc. (NYSE: REXR) (“Rexford” or the “Company”), a real estate investment trust focused on creating value by investing in and operating industrial properties in Southern California infill markets, announced that it has priced an underwritten public offering of 9,600,000 shares of its common stock, of which 3,100,000 shares were offered directly by the Company, and 6,500,000 shares were offered, at the request of the Company, by the forward purchasers (as defined below) or their affiliates in connection with the forward sale agreements described below, for expected gross proceeds of approximately $565.9 million, before deducting estimated offering expenses. The shares may be offered by the underwriters from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the NYSE, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
BofA Securities and J.P. Morgan are acting as the joint lead book-running managers for the offering.
Rexford Industrial Realty Inc. stock is now 19.98% up from its year-to-date (YTD) trading value. REXR Stock saw the intraday high of $59.21 and lowest of $58.40 per share. The company’s 52-week high price is 63.55, which means current price is +28.37% above from all time high which was touched on 09/03/21.
Compared to the average trading volume of 696.79K shares, REXR reached a trading volume of 3581242 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Rexford Industrial Realty Inc. [REXR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for REXR shares is $69.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on REXR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CapitalOne have made an estimate for Rexford Industrial Realty Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 19, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on October 28, 2020, representing the official price target for Rexford Industrial Realty Inc. stock. Previously, the target price had yet another raise to $50, while Robert W. Baird analysts kept a Outperform rating on REXR stock. On May 04, 2020, analysts decreased their price target for REXR shares from 50 to 40.
The Average True Range (ATR) for Rexford Industrial Realty Inc. is set at 0.98, with the Price to Sales ratio for REXR stock in the period of the last 12 months amounting to 21.82. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 0.46. Price to Free Cash Flow for REXR in the course of the last twelve months was 72.39.
How has REXR stock performed recently?
Rexford Industrial Realty Inc. [REXR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.34. With this latest performance, REXR shares dropped by -2.22% in over the last four-week period, additionally plugging by 16.53% over the last 6 months – not to mention a rise of 33.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for REXR stock in for the last two-week period is set at 35.99, with the RSI for the last a single of trading hit 29.74, and the three-weeks RSI is set at 40.86 for Rexford Industrial Realty Inc. [REXR]. The present Moving Average for the last 50 days of trading for this stock 61.02, while it was recorded at 59.69 for the last single week of trading, and 54.48 for the last 200 days.
Rexford Industrial Realty Inc. [REXR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Rexford Industrial Realty Inc. [REXR] shares currently have an operating margin of +28.28 and a Gross Margin at +40.94. Rexford Industrial Realty Inc.’s Net Margin is presently recorded at +21.47.
Return on Total Capital for REXR is now 2.23, given the latest momentum, and Return on Invested Capital for the company is 1.77. Return on Equity for this stock inclined to 2.44, with Return on Assets sitting at 1.65. When it comes to the capital structure of this company, Rexford Industrial Realty Inc. [REXR] has a Total Debt to Total Equity ratio set at 39.74. Additionally, REXR Total Debt to Total Capital is recorded at 28.44, with Total Debt to Total Assets ending up at 26.05. Long-Term Debt to Equity for the company is recorded at 42.90, with the Long-Term Debt to Total Capital now at 28.41.
Reflecting on the efficiency of the workforce at the company, Rexford Industrial Realty Inc. [REXR] managed to generate an average of $482,272 per employee. Receivables Turnover for the company is 7.62 with a Total Asset Turnover recorded at a value of 0.08.
Earnings analysis for Rexford Industrial Realty Inc. [REXR]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for REXR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rexford Industrial Realty Inc. go to 10.00%.
Insider trade positions for Rexford Industrial Realty Inc. [REXR]
There are presently around $8,406 million, in the hands of institutional investors. The top three institutional holders of REXR stocks are: VANGUARD GROUP INC with ownership of 19,885,279, which is approximately 7.4% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 18,148,451 shares of the stock with an approximate value of $1.07 billion in REXR stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $528.54 million in REXR stock with ownership of nearly 10.509% of the company’s market capitalization.
Positions in Rexford Industrial Realty Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 163 institutional holders increased their position in Rexford Industrial Realty Inc. [NYSE:REXR] by around 10,922,312 shares. Additionally, 114 investors decreased positions by around 4,555,549 shares, while 36 investors held positions by with 127,196,706 shares. The mentioned changes placed institutional holdings at 142,674,567 shares, according to the latest SEC report filing. REXR stock had 40 new institutional investments in for a total of 3,977,776 shares, while 25 institutional investors sold positions of 630,478 shares during the same period.