Oppenheimer Asset Management Inc. Increases Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Oppenheimer Asset Management Inc. boosted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 22.0% in the third quarter, Holdings Channel.com reports. The firm owned 32,012 shares of the real estate investment trust’s stock after acquiring an additional 5,778 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in 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 valued at $25,000 after buying an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Rexford Industrial Realty during the 2nd quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

REXR stock opened at $42.01 on Monday. The stock’s fifty day moving average is $46.92 and its two-hundred day moving average is $47.05. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty, Inc. has a 1 year low of $41.16 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho cut their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Truist Financial lowered their price target on 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.09.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

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.