GAMMA Investing LLC Has $93,000 Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

GAMMA Investing LLC boosted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 111.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the real estate investment trust’s stock after purchasing an additional 976 shares during the period. GAMMA Investing LLC’s holdings in Rexford Industrial Realty were worth $93,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in REXR. Capital International Investors increased its holdings in Rexford Industrial Realty by 687.7% during the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Rexford Industrial Realty by 262.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock worth $112,536,000 after purchasing an additional 1,620,378 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after purchasing an additional 1,235,894 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Rexford Industrial Realty by 38.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after acquiring an additional 800,137 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Insider Buying and Selling

In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction 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 $2,475,882.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $47.31 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 43.40, a P/E/G ratio of 1.93 and a beta of 0.93. The company’s fifty day moving average is $50.08 and its 200 day moving average is $47.40.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results 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). The firm 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%. Rexford Industrial Realty’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.53%. 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%.

Wall Street Analysts Forecast Growth

REXR has been the subject of several analyst reports. Truist Financial raised their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Evercore ISI lifted their price objective on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.50.

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.