Envestnet Asset Management Inc. Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Envestnet Asset Management Inc. raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,822 shares of the real estate investment trust's stock after buying an additional 76,568 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Rexford Industrial Realty worth $14,204,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Utah Retirement Systems grew its holdings in shares of Rexford Industrial Realty by 0.8% during the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after buying an additional 300 shares during the last quarter. Private Trust Co. NA boosted its holdings in Rexford Industrial Realty by 95.6% during 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 last quarter. Bessemer Group Inc. boosted its holdings in 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 worth $29,000 after purchasing an additional 405 shares during the last quarter. Quarry LP boosted its holdings in Rexford Industrial Realty by 18.3% during the fourth quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock worth $121,000 after purchasing an additional 486 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of REXR traded up $0.58 on Tuesday, reaching $37.46. The company's stock had a trading volume of 2,399,180 shares, compared to its average volume of 2,241,922. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. The stock has a market capitalization of $8.86 billion, a P/E ratio of 27.74, a PEG ratio of 3.38 and a beta of 1.13. The stock's 50 day simple moving average is $36.12 and its two-hundred day simple moving average is $37.25. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same quarter last year, the business earned $0.60 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is currently 127.41%.

Analyst Ratings Changes

A number of research analysts have weighed in on REXR shares. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Wells Fargo & Company lowered their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Truist Financial lowered 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 research report on Thursday, May 1st. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, Evercore ISI lowered shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $39.00 to $38.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $39.82.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Rexford Industrial Realty 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.