Sanctuary Advisors LLC Buys Shares of 21,933 Rexford Industrial Realty, Inc. (NYSE:REXR)

Sanctuary Advisors LLC purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,933 shares of the real estate investment trust’s stock, valued at approximately $947,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC grew its stake in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 210 shares during the last quarter. Inspire Investing LLC grew its position 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 buying an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 337 shares in the last quarter. Victory Capital Management Inc. lifted its position in Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after acquiring an additional 345 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Rexford Industrial Realty by 169.4% in the second 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 in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on REXR. Mizuho decreased their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company cut 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 report on Wednesday, August 28th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Evercore ISI upped their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $52.50.

Rexford Industrial Realty Stock Up 1.7 %

NYSE:REXR opened at $47.34 on Friday. The firm has a market capitalization of $10.31 billion, a P/E ratio of 43.43, a PEG ratio of 1.93 and a beta of 0.93. The company’s fifty day moving average price is $50.08 and its 200-day moving average price is $47.42. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73.

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 analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same quarter in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.4175 per share. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.53%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

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.