Ashton Thomas Private Wealth LLC Takes $1.33 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Ashton Thomas Private Wealth LLC bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 26,400 shares of the real estate investment trust’s stock, valued at approximately $1,328,000.

Several other large investors also recently bought and sold shares of REXR. Fulton Bank N.A. grew its position in shares of Rexford Industrial Realty by 4.7% during the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 224 shares in the last quarter. Inspire Investing LLC increased its position in shares of Rexford Industrial Realty by 4.9% in the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 337 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on REXR shares. Mizuho dropped their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Stock Up 1.0 %

REXR opened at $41.83 on Thursday. Rexford Industrial Realty, Inc. has a 52 week low of $41.36 and a 52 week high of $58.02. The business has a 50 day moving average price of $47.24 and a two-hundred day moving average price of $47.07. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.30 billion, a PE ratio of 34.01, a P/E/G ratio of 1.98 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.99%. Rexford Industrial Realty’s payout ratio is currently 135.77%.

About Rexford Industrial Realty

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.