Naviter Wealth LLC Has $654,000 Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Naviter Wealth LLC grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,525 shares of the real estate investment trust’s stock after buying an additional 593 shares during the period. Naviter Wealth LLC’s holdings in Rexford Industrial Realty were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV increased its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares during the period. Advisors Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 136.6% in the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 627 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 740 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR stock opened at $50.90 on Wednesday. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 46.70, a P/E/G ratio of 2.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50 day simple moving average of $48.87 and a 200 day simple moving average of $47.77. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. During the same quarter last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.28%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Insider Activity

In other news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Scotiabank increased their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, Evercore ISI boosted their target price on shares of Rexford Industrial Realty from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.09.

Rexford Industrial Realty Profile

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.