Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in Rexford Industrial Realty, Inc. by 30.9%, owning approximately 261,480 shares valued at $10.24 million after acquiring additional shares in the 1st quarter.
• Several institutional investors have significantly increased their positions in Rexford Industrial Realty, with MassMutual Private Wealth boosting its stake by 332.9% during the same period.
• Rexford Industrial Realty announced a quarterly dividend of $0.43, with an annualized dividend yield of 4.8%, scheduled for payment on October 15.

New Age Alpha Advisors LLC increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,480 shares of the real estate investment trust's stock after acquiring an additional 61,745 shares during the period. New Age Alpha Advisors LLC owned about 0.11% of Rexford Industrial Realty worth $10,237,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of REXR. MassMutual Private Wealth & Trust FSB lifted its stake in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares in the last quarter. Bessemer Group Inc. raised its position in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Private Trust Co. NA raised its position in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. GAMMA Investing LLC raised its position in Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 978 shares in the last quarter. Finally, Avalon Trust Co acquired a new stake in Rexford Industrial Realty in the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction that occurred 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 SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on 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. Wells Fargo & Company reduced their price target on 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. Scotiabank reduced their price target 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. Evercore ISI lowered Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Finally, Truist Financial reduced their price target on 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. Two equities research 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. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average price target of $39.82.

Rexford Industrial Realty Trading Up 0.6%

NYSE:REXR opened at $36.14 on Tuesday. The stock's 50 day moving average price is $36.54 and its 200 day moving average price is $37.15. The company has a market capitalization of $8.55 billion, a PE ratio of 26.77, a P/E/G ratio of 3.99 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, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $241.57 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, research analysts anticipate 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. Shareholders of record on Tuesday, September 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

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.

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