New Age Alpha Advisors LLC increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,480 shares of the real estate investment trust's stock after purchasing an additional 61,745 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.11% of Rexford Industrial Realty worth $10,237,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Utah Retirement Systems increased its position in Rexford Industrial Realty by 0.8% in the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after acquiring an additional 300 shares in the last quarter. M&T Bank Corp increased its position in 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 valued at $1,052,000 after acquiring an additional 317 shares in the last quarter. Private Trust Co. NA increased 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 acquiring an additional 370 shares in the last quarter. Federated Hermes Inc. increased its position in Rexford Industrial Realty by 2.2% in the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock valued at $716,000 after acquiring an additional 388 shares in the last quarter. Finally, Bessemer Group Inc. increased 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 acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.
Rexford Industrial Realty Stock Down 0.6%
REXR traded down $0.24 during trading on Friday, reaching $36.73. The company had a trading volume of 2,108,764 shares, compared to its average volume of 3,052,349. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61. The business's fifty day moving average price is $36.65 and its 200 day moving average price is $37.10. The company has a market cap of $8.69 billion, a P/E ratio of 27.21, a PEG ratio of 4.11 and a beta of 1.10.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating 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 firm had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS 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 paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.7%. Rexford Industrial Realty's payout ratio is presently 127.41%.
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 that occurred 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 document filed with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on REXR. 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 research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of 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. Evercore ISI cut shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, Scotiabank lowered their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target of $39.82.
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About Rexford Industrial Realty
(
Free Report)
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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