Cresset Asset Management LLC Makes New $454,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Cresset Asset Management LLC acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,619 shares of the real estate investment trust's stock, valued at approximately $454,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after buying an additional 562,710 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after acquiring an additional 954,202 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Rexford Industrial Realty by 32.3% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock worth $173,667,000 after buying an additional 1,097,349 shares during the period. Geode Capital Management LLC grew its holdings in Rexford Industrial Realty by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock worth $160,282,000 after acquiring an additional 70,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Rexford Industrial Realty by 0.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,367,298 shares of the real estate investment trust's stock valued at $130,180,000 after purchasing an additional 28,079 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 1.2%

Shares of REXR stock traded down $0.41 on Wednesday, reaching $34.71. 355,683 shares of the company's stock traded hands, compared to its average volume of 1,943,361. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $8.22 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business's 50 day moving average price is $35.39 and its two-hundred day moving average price is $38.71.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.96%. Rexford Industrial Realty's payout ratio is presently 138.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on REXR. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays cut their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Scotiabank reduced their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Evercore ISI decreased their target price on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.00.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.