Edgestream Partners L.P. Makes New $7.03 Million Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Edgestream Partners L.P. bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 179,660 shares of the real estate investment trust's stock, valued at approximately $7,034,000. Edgestream Partners L.P. owned about 0.08% of Rexford Industrial Realty as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Securian Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 3.0% during the first quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock worth $677,000 after buying an additional 501 shares during the last quarter. Isthmus Partners LLC grew its stake in shares of Rexford Industrial Realty by 7.5% in the first quarter. Isthmus Partners LLC now owns 7,406 shares of the real estate investment trust's stock worth $290,000 after purchasing an additional 519 shares during the last quarter. CWM LLC grew its stake in shares of Rexford Industrial Realty by 106.5% in the first quarter. CWM LLC now owns 4,221 shares of the real estate investment trust's stock worth $165,000 after purchasing an additional 2,177 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Rexford Industrial Realty by 3.4% in the first quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the real estate investment trust's stock worth $2,494,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Rexford Industrial Realty by 2.3% in the first quarter. Xponance Inc. now owns 26,308 shares of the real estate investment trust's stock worth $1,030,000 after purchasing an additional 601 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on REXR shares. Evercore ISI reduced their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Truist Financial reduced 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 note on Thursday, May 1st. Scotiabank dropped 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. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.00.

Rexford Industrial Realty Stock Down 2.4%

REXR stock traded down $0.87 during trading on Thursday, reaching $35.45. The stock had a trading volume of 7,587,248 shares, compared to its average volume of 2,235,938. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. 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 company's 50 day moving average is $36.02 and its two-hundred day moving average is $37.31. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 3.32 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. The business had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 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 4.85%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio 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.