Whalen Wealth Management Inc. Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Whalen Wealth Management Inc. purchased a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,779 shares of the real estate investment trust's stock, valued at approximately $422,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in shares of Rexford Industrial Realty by 18.8% in the 4th quarter. Sanctuary Advisors LLC now owns 23,782 shares of the real estate investment trust's stock valued at $969,000 after buying an additional 3,760 shares during the period. CIBC Asset Management Inc raised its position in Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after acquiring an additional 355 shares in the last quarter. Rothschild Investment LLC raised its position in Rexford Industrial Realty by 760,280.0% during the fourth quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust's stock valued at $1,470,000 after acquiring an additional 38,014 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Rexford Industrial Realty by 63.6% in the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock valued at $839,000 after acquiring an additional 8,431 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Rexford Industrial Realty by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,777,062 shares of the real estate investment trust's stock worth $68,701,000 after purchasing an additional 23,736 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded up $0.35 during midday trading on Thursday, reaching $36.16. The company had a trading volume of 2,149,785 shares, compared to its average volume of 2,113,494. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.90 and a quick ratio of 4.90. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The company has a market capitalization of $8.56 billion, a P/E ratio of 29.16, a P/E/G ratio of 3.28 and a beta of 1.14. The firm's fifty day simple moving average is $35.06 and its 200-day simple moving average is $37.57.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The business had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. As a group, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's payout ratio is 138.71%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on REXR shares. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Evercore ISI lowered their target price on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on 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 reduced their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Truist Financial dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.00.

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.