Fisher Asset Management LLC Buys 5,604 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Fisher Asset Management LLC boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,766 shares of the real estate investment trust’s stock after acquiring an additional 5,604 shares during the quarter. Fisher Asset Management LLC’s holdings in Rexford Industrial Realty were worth $3,359,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of REXR. O Shaughnessy Asset Management LLC grew its stake in shares of Rexford Industrial Realty by 19.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,605 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 764 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 136.6% during the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 627 shares during the last quarter. Walleye Trading LLC bought a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $1,123,000. Virtu Financial LLC bought a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $607,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Rexford Industrial Realty by 11.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 70,133 shares of the real estate investment trust’s stock valued at $3,527,000 after buying an additional 7,100 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 0.5 %

Rexford Industrial Realty stock opened at $42.55 on Friday. The business has a fifty day moving average of $45.45 and a two-hundred day moving average of $46.91. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $9.46 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.03 and a beta of 0.94. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02.

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

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.92%. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on REXR shares. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Mizuho lowered their price target 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. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $49.00 in a report on Monday, October 21st. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report 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 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.09.

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.