Wealth Enhancement Advisory Services LLC Buys New Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,502 shares of the real estate investment trust’s stock, valued at approximately $424,000.

A number of other institutional investors also recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its stake in shares of 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 worth $461,000 after acquiring an additional 210 shares during the period. Securian Asset Management Inc. lifted 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 worth $999,000 after acquiring an additional 330 shares during the period. Inspire Investing LLC lifted its stake 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 worth $358,000 after acquiring an additional 331 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in 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 valued at $6,199,000 after purchasing an additional 420 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on 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 owns 50,673 shares in the company, valued at approximately $2,475,882.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on REXR. Scotiabank cut their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Truist Financial increased their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Robert W. Baird cut their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Evercore ISI began coverage on shares of Rexford Industrial Realty in a research note on Wednesday, July 10th. They set an “outperform” rating and a $54.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.70.

Rexford Industrial Realty Stock Up 1.6 %

Shares of NYSE:REXR opened at $52.03 on Friday. The company has a market cap of $11.42 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a 50 day simple moving average of $47.93 and a 200 day simple moving average of $47.86. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02.

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 for the quarter, missing the consensus estimate of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. 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.