First Foundation Advisors Acquires 6,705 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

First Foundation Advisors raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,298 shares of the real estate investment trust’s stock after purchasing an additional 6,705 shares during the period. First Foundation Advisors owned 0.12% of Rexford Industrial Realty worth $12,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of REXR. Los Angeles Capital Management LLC increased its position in Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 210 shares in the last quarter. Lindbrook Capital LLC increased its position in Rexford Industrial Realty by 4.9% during the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 259 shares in the last quarter. Securian Asset Management Inc. increased its position in Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 330 shares in the last quarter. Inspire Investing LLC increased its position in Rexford Industrial Realty by 4.9% during the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 331 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Rexford Industrial Realty by 0.7% during the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after buying an additional 407 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on REXR. Mizuho cut their target price on 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. Robert W. Baird cut their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Wedbush assumed coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target on the stock. Barclays raised their price target 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. Finally, Truist Financial dropped their price target 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.60.

Rexford Industrial Realty Stock Up 0.6 %

NYSE:REXR traded up $0.27 during trading hours on Friday, reaching $49.11. The company’s stock had a trading volume of 1,434,429 shares, compared to its average volume of 1,866,996. The stock has a 50 day moving average price of $45.50 and a two-hundred day moving average price of $48.74. The company has a market capitalization of $10.70 billion, a P/E ratio of 45.06, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 1.73. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. During the same period in the previous year, the company posted $0.54 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.32 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Rexford Industrial Realty Company 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.