Orion Portfolio Solutions LLC Invests $229,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Orion Portfolio Solutions LLC bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,542 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after buying an additional 1,489,876 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Rexford Industrial Realty by 41.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after acquiring an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after acquiring an additional 800,137 shares during the period. Daiwa Securities Group Inc. raised its stake in Rexford Industrial Realty by 52.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock worth $53,990,000 after purchasing an additional 417,037 shares in the last quarter. Finally, Brookfield Corp ON bought a new stake in Rexford Industrial Realty in the 3rd quarter valued at about $13,838,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Mizuho lowered 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 report on Thursday, September 5th. Wells Fargo & Company lowered their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Trading Down 0.4 %

Shares of Rexford Industrial Realty stock opened at $37.97 on Friday. The firm’s 50 day moving average is $42.80 and its 200 day moving average is $46.45. The firm has a market capitalization of $8.44 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1 year low of $37.86 and a 1 year high of $57.01. 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 (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.56 earnings per share. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared 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. This represents a $1.67 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

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.