Quest Partners LLC Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Quest Partners LLC bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,934 shares of the real estate investment trust’s stock, valued at approximately $449,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in Rexford Industrial Realty by 169.4% during 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 acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at $26,000. UMB Bank n.a. boosted its stake 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 valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC bought a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on REXR. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $42.08 on Friday. The firm has a market capitalization of $9.36 billion, a PE ratio of 34.21, a PEG ratio of 1.99 and a beta of 0.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 1 year low of $41.16 and a 1 year high of $58.02. The firm’s fifty day simple moving average is $46.16 and its 200 day simple moving average is $46.98.

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

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.

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.