Legacy Wealth Asset Management LLC Acquires 2,613 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Legacy Wealth Asset Management LLC increased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,607 shares of the real estate investment trust’s stock after buying an additional 2,613 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Rexford Industrial Realty were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 11.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,969 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 1,184 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Rexford Industrial Realty by 75.6% during the fourth quarter. Park Avenue Securities LLC now owns 8,444 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 3,634 shares during the last quarter. Oak Thistle LLC raised its stake in shares of Rexford Industrial Realty by 37.7% during the fourth quarter. Oak Thistle LLC now owns 21,527 shares of the real estate investment trust’s stock worth $832,000 after buying an additional 5,895 shares during the last quarter. Reinhart Partners LLC. increased its stake in Rexford Industrial Realty by 1.6% in the fourth quarter. Reinhart Partners LLC. now owns 282,598 shares of the real estate investment trust’s stock valued at $10,925,000 after purchasing an additional 4,518 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in Rexford Industrial Realty by 14.9% in the fourth quarter. Fulton Bank N.A. now owns 5,791 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 753 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Trading Down 1.7 %

Shares of Rexford Industrial Realty stock opened at $39.06 on Friday. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.75 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $56.14. The firm’s 50-day moving average price is $40.25 and its two-hundred day moving average price is $45.59.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on REXR shares. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday. They issued a “hold” rating and a $40.00 target price for the company. Barclays lowered their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Finally, Truist Financial reduced their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.42.

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.