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

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

A number of other hedge funds have also added to or reduced their stakes in the business. Utah Retirement Systems lifted its position in shares of Rexford Industrial Realty by 0.8% in the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after buying an additional 300 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Rexford Industrial Realty by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after purchasing an additional 355 shares during the last quarter. Isthmus Partners LLC boosted its position in Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock worth $266,000 after purchasing an additional 469 shares during the period. Quarry LP raised its position in shares of Rexford Industrial Realty by 18.3% in the fourth quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 486 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 566 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Down 0.3%

REXR opened at $36.59 on Monday. The company's 50 day moving average is $34.74 and its 200-day moving average is $37.64. The company has a market cap of $8.66 billion, a P/E ratio of 29.51, a PEG ratio of 3.35 and a beta of 1.14. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. The firm had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on REXR. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Barclays dropped their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Evercore ISI dropped their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.

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