Vert Asset Management LLC Has $4.42 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Vert Asset Management LLC lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 10.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 87,783 shares of the real estate investment trust’s stock after purchasing an additional 8,519 shares during the quarter. Rexford Industrial Realty comprises 1.9% of Vert Asset Management LLC’s holdings, making the stock its 19th biggest position. Vert Asset Management LLC’s holdings in Rexford Industrial Realty were worth $4,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hazelview Securities Inc. lifted its stake in Rexford Industrial Realty by 55.7% in the 1st quarter. Hazelview Securities Inc. now owns 384,915 shares of the real estate investment trust’s stock valued at $18,799,000 after acquiring an additional 137,700 shares in the last quarter. Fulton Bank N.A. bought a new stake in Rexford Industrial Realty in the 1st quarter valued at approximately $206,000. Los Angeles Capital Management LLC lifted its stake in Rexford Industrial Realty by 2.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 210 shares in the last quarter. Reinhart Partners LLC. bought a new stake in Rexford Industrial Realty in the 1st quarter valued at approximately $9,109,000. Finally, First Financial Bank Trust Division bought a new stake in Rexford Industrial Realty in the 1st quarter valued at approximately $2,551,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

Shares of REXR traded up $0.23 during trading hours on Thursday, hitting $44.11. 120,486 shares of the company were exchanged, compared to its average volume of 1,756,013. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 40.26, a P/E/G ratio of 1.79 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $44.39 and its 200 day moving average is $49.76.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.78%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on REXR shares. Truist Financial dropped their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays upped their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Mizuho dropped their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Robert W. Baird dropped their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Scotiabank dropped their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.44.

Rexford Industrial Realty Company 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.