Cerity Partners LLC Buys 11,182 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Cerity Partners LLC boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 27.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,211 shares of the real estate investment trust's stock after acquiring an additional 11,182 shares during the quarter. Cerity Partners LLC's holdings in Rexford Industrial Realty were worth $2,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp increased its holdings in shares of Rexford Industrial Realty by 1.2% in the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after buying an additional 317 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Rexford Industrial Realty by 26.7% in the first quarter. Envestnet Asset Management Inc. now owns 362,822 shares of the real estate investment trust's stock worth $14,204,000 after acquiring an additional 76,568 shares in the last quarter. Chilton Capital Management LLC increased its stake in Rexford Industrial Realty by 7.3% in the first quarter. Chilton Capital Management LLC now owns 348,913 shares of the real estate investment trust's stock valued at $13,776,000 after acquiring an additional 23,752 shares during the last quarter. Bank of New York Mellon Corp raised its position in Rexford Industrial Realty by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 1,789,826 shares of the real estate investment trust's stock valued at $70,072,000 after purchasing an additional 12,764 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Rexford Industrial Realty by 2.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,244 shares of the real estate investment trust's stock valued at $1,810,000 after purchasing an additional 1,100 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on REXR shares. Scotiabank reduced their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Barclays reduced their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company 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. Finally, Wells Fargo & Company decreased 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 research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and an average price target of $39.82.

Rexford Industrial Realty Stock Down 1.1%

Shares of REXR stock traded down $0.43 during midday trading on Thursday, reaching $37.63. 2,105,146 shares of the stock were exchanged, compared to its average volume of 3,407,056. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61. The firm has a market cap of $8.91 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 4.23 and a beta of 1.13. The company's 50 day moving average is $36.26 and its two-hundred day moving average is $37.25. The company has a current ratio of 5.59, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37.

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

Rexford Industrial Realty Dividend Announcement

The firm 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is presently 127.41%.

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.