Burford Brothers Inc. Makes New $609,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Burford Brothers Inc. purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,553 shares of the real estate investment trust's stock, valued at approximately $609,000.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares during the period. Bessemer Group Inc. grew its position in shares of Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares during the period. Quantbot Technologies LP acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth about $33,000. Finally, GAMMA Investing LLC boosted its stake in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 978 shares during the period. Institutional investors own 99.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on REXR shares. Truist Financial dropped their price target on 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. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Evercore ISI cut their target price on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Barclays reduced their price target 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. Finally, Scotiabank cut their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $40.00.

Rexford Industrial Realty Price Performance

REXR traded up $0.13 during midday trading on Friday, reaching $37.06. 3,163,566 shares of the company's stock were exchanged, compared to its average volume of 2,180,967. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $37.35. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 3.40 and a beta of 1.13. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The business had revenue of $248.82 million during the quarter, compared to the consensus estimate of $246.74 million. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 138.71%.

About Rexford Industrial Realty

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.