Yousif Capital Management LLC Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Yousif Capital Management LLC grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,616 shares of the real estate investment trust’s stock after purchasing an additional 2,468 shares during the quarter. Yousif Capital Management LLC owned approximately 0.05% of Rexford Industrial Realty worth $5,925,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty in the 4th quarter worth about $41,000. Fifth Third Bancorp increased its holdings in 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 worth $55,000 after acquiring an additional 411 shares during the last quarter. Ninepoint Partners LP bought a new position in Rexford Industrial Realty in the 3rd quarter worth about $108,000. Signaturefd LLC boosted its stake in Rexford Industrial Realty by 45.9% in the 3rd quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 714 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 3,031 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on REXR. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Wednesday, February 7th. Truist Financial dropped their price target on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. 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. Barclays lifted their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Wedbush began coverage on Rexford Industrial Realty in a research report on Monday. They set a “neutral” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.73.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $43.01 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The business’s 50 day simple moving average is $49.50 and its two-hundred day simple moving average is $50.46. The stock has a market capitalization of $9.37 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same period last year, the firm posted $0.52 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.88%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Profile

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.