Legacy Wealth Asset Management LLC Takes $284,000 Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Legacy Wealth Asset Management LLC acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,654 shares of the real estate investment trust’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of REXR. GAMMA Investing LLC bought a new position in Rexford Industrial Realty during the 4th quarter valued at $41,000. Quarry LP lifted its holdings in Rexford Industrial Realty by 195.8% in the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 740 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $96,000. International Assets Investment Management LLC grew its stake in shares of Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $189,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REXR. Mizuho cut their target price on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Barclays increased their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Truist Financial lowered their target price on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, Robert W. Baird lowered their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.44.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded up $0.33 during trading hours on Thursday, hitting $45.21. 917,982 shares of the stock were exchanged, compared to its average volume of 1,268,132. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The business’s 50-day moving average is $44.56 and its two-hundred day moving average is $49.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. The stock has a market capitalization of $9.85 billion, a P/E ratio of 41.50, a P/E/G ratio of 1.81 and a beta of 0.92.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.69%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.