Wealth Enhancement Advisory Services LLC Raises Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Wealth Enhancement Advisory Services LLC grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 87.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,680 shares of the real estate investment trust's stock after buying an additional 8,256 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Rexford Industrial Realty were worth $684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of REXR. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Rexford Industrial Realty in the 4th quarter valued at approximately $65,000. SRS Capital Advisors Inc. boosted its position in Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after buying an additional 2,709 shares during the period. Finally, Quarry LP increased its position in Rexford Industrial Realty by 18.3% in the 4th quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock valued at $121,000 after acquiring an additional 486 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock traded down $0.31 during trading hours on Friday, reaching $36.63. The company had a trading volume of 2,442,314 shares, compared to its average volume of 2,060,846. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The business has a fifty day moving average price of $34.36 and a 200-day moving average price of $37.89. The firm has a market cap of $8.67 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 4.70%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 138.71%.

Wall Street Analyst Weigh In

REXR has been the topic of several recent research reports. Truist Financial cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. 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. Finally, Wells Fargo & Company lowered their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and an average price target of $40.00.

Rexford Industrial Realty Company 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.