Burford Brothers Inc. bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,553 shares of the real estate investment trust's stock, valued at approximately $609,000.
Several other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Rexford Industrial Realty by 198.3% during the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock valued at $1,528,000 after purchasing an additional 25,945 shares during the period. GAMMA Investing LLC grew its holdings 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 buying an additional 978 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Rexford Industrial Realty by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after buying an additional 10,603 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter worth about $11,830,000. 99.52% of the stock is currently owned by institutional investors.
Rexford Industrial Realty Trading Up 0.1%
Rexford Industrial Realty stock traded up $0.05 during trading hours on Monday, reaching $37.11. The company had a trading volume of 5,043,167 shares, compared to its average volume of 2,573,936. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 3.40 and a beta of 1.13. 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 0.37, a current ratio of 4.90 and a quick ratio of 4.90. The company has a 50-day moving average price of $35.86 and a 200 day moving average price of $37.34.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. The business had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.
Rexford Industrial Realty Dividend Announcement
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 issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 138.71%.
Analyst Ratings Changes
A number of research firms recently weighed in on REXR. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Barclays cut their price objective on 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, Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. 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. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $40.00.
Check Out Our Latest Analysis on Rexford Industrial Realty
Rexford Industrial Realty Profile
(
Free Report)
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.
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