Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC boosted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 53.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,932 shares of the real estate investment trust’s stock after acquiring an additional 4,879 shares during the period. Naviter Wealth LLC’s holdings in Rexford Industrial Realty were worth $707,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in Rexford Industrial Realty by 2.3% during the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 210 shares during the last quarter. Lindbrook Capital LLC increased its stake in Rexford Industrial Realty by 4.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 259 shares during the last quarter. Securian Asset Management Inc. increased its stake in Rexford Industrial Realty by 1.9% during the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 330 shares during the last quarter. Arizona State Retirement System increased its stake in Rexford Industrial Realty by 0.7% during the fourth quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after purchasing an additional 407 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in Rexford Industrial Realty by 2.0% during the third quarter. Toronto Dominion Bank now owns 23,203 shares of the real estate investment trust’s stock valued at $1,145,000 after purchasing an additional 465 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank lowered their price target on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Truist Financial lowered their price target 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. Barclays upped their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. Wedbush assumed 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 for the company. Finally, Mizuho lowered their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $52.44.

Rexford Industrial Realty Trading Up 1.0 %

REXR stock traded up $0.43 during mid-day trading on Tuesday, reaching $44.88. 1,268,581 shares of the stock traded hands, compared to its average volume of 1,755,633. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a market cap of $9.78 billion, a P/E ratio of 41.17, a P/E/G ratio of 1.80 and a beta of 0.92. The stock’s fifty day moving average is $44.51 and its 200-day moving average is $49.42.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Rexford Industrial Realty’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.72%. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

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.