Avantax Advisory Services Inc. Acquires 8,913 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Avantax Advisory Services Inc. raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 66.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,349 shares of the real estate investment trust's stock after purchasing an additional 8,913 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Rexford Industrial Realty were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REXR. Brookwood Investment Group LLC acquired a new position in Rexford Industrial Realty during the first quarter worth $223,000. Diamond Hill Capital Management Inc. lifted its position in shares of Rexford Industrial Realty by 41.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 526,004 shares of the real estate investment trust's stock worth $20,593,000 after purchasing an additional 153,118 shares in the last quarter. AE Wealth Management LLC purchased a new position in Rexford Industrial Realty in the first quarter valued at $263,000. KLP Kapitalforvaltning AS increased its stake in shares of Rexford Industrial Realty by 2.0% during the first quarter. KLP Kapitalforvaltning AS now owns 44,900 shares of the real estate investment trust's stock worth $1,774,000 after buying an additional 900 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rexford Industrial Realty during the 1st quarter worth about $12,921,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded up $0.23 during mid-day trading on Thursday, hitting $36.97. The company's stock had a trading volume of 1,089,048 shares, compared to its average volume of 2,606,194. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The stock's fifty day moving average price is $36.58 and its two-hundred day moving average price is $37.14. The stock has a market capitalization of $8.75 billion, a P/E ratio of 27.40, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $251.72 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue for the quarter 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 year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is 127.41%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on REXR shares. JPMorgan Chase & Co. lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average target price of $39.82.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

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.