Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,727 shares of the real estate investment trust’s stock after purchasing an additional 685 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Rexford Industrial Realty were worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in Rexford Industrial Realty by 116.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after buying an additional 24,793 shares in the last quarter. First Financial Bank Trust Division acquired a new position in shares of Rexford Industrial Realty in the first quarter worth about $2,551,000. Pacer Advisors Inc. boosted its holdings in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after purchasing an additional 23,510 shares during the last quarter. GSI Capital Advisors LLC grew its stake in Rexford Industrial Realty by 45.0% during the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after purchasing an additional 59,320 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $3,327,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on REXR shares. Mizuho reduced their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Robert W. Baird reduced their price objective on shares of 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. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Wedbush initiated coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock. Finally, Scotiabank lowered their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.44.

Rexford Industrial Realty Stock Performance

REXR stock traded up $0.40 during midday trading on Wednesday, reaching $45.28. The company had a trading volume of 285,474 shares, compared to its average volume of 1,744,057. The firm has a market capitalization of $9.86 billion, a PE ratio of 41.29, a P/E/G ratio of 1.80 and a beta of 0.92. The stock has a 50 day moving average price of $44.51 and a 200 day moving average price of $49.42. 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.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share 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. Stockholders of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.68%. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

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.