Raymond James Trust N.A. Acquires New Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Raymond James Trust N.A. bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,312 shares of the real estate investment trust’s stock, valued at approximately $326,000.

Several other large investors have also bought and sold shares of REXR. Tower Research Capital LLC TRC raised its position in shares of Rexford Industrial Realty by 116.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after acquiring an additional 24,793 shares during the last quarter. M&G Plc acquired a new stake in Rexford Industrial Realty during the 1st quarter valued at approximately $33,644,000. First Financial Bank Trust Division bought a new position in Rexford Industrial Realty during the 1st quarter worth approximately $2,551,000. GSI Capital Advisors LLC boosted its stake in shares of Rexford Industrial Realty by 45.0% in the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after purchasing an additional 59,320 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Rexford Industrial Realty during the first quarter worth $1,671,000. 99.52% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Stock Up 0.4 %

Shares of NYSE REXR opened at $52.28 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50-day moving average price of $48.24 and a 200-day moving average price of $47.82. The stock has a market capitalization of $11.39 billion, a P/E ratio of 47.96, a P/E/G ratio of 2.06 and a beta of 0.92. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS 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 analysts’ expectations of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.4175 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. This represents a $1.67 annualized dividend and a dividend yield of 3.19%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday. Mizuho decreased their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Truist Financial boosted their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird reduced their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Evercore ISI initiated 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 on the stock. 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. According to MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $53.10.

Rexford Industrial Realty Company 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.