Envestnet Portfolio Solutions Inc. Acquires 1,185 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Envestnet Portfolio Solutions Inc. raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 28.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,380 shares of the real estate investment trust’s stock after buying an additional 1,185 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Rexford Industrial Realty were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its position 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. Securian Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 1.9% in the 4th 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 period. Inspire Investing LLC lifted its holdings in shares of Rexford Industrial Realty by 4.9% in the first 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 in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of 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 purchasing an additional 349 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Rexford Industrial Realty by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 123,265 shares of the real estate investment trust’s stock worth $6,199,000 after buying an additional 420 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI started coverage on Rexford Industrial Realty in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 target price on the stock. Truist Financial increased their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird decreased their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.70.

Rexford Industrial Realty Stock Up 1.6 %

Shares of REXR stock opened at $52.03 on Friday. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.06 and a beta of 0.92. The firm’s 50-day moving average is $47.93 and its 200-day moving average is $47.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. During the same quarter in the prior year, the company earned $0.54 EPS. Rexford Industrial Realty’s quarterly revenue was up 21.3% on a year-over-year basis. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 annualized dividend and a yield of 3.21%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Insiders Place Their Bets

In other news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

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.