Massmutual Trust Co. FSB ADV grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 295.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,183 shares of the real estate investment trust’s stock after acquiring an additional 884 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Rexford Industrial Realty were worth $58,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth about $28,000. CWM LLC increased its position in shares of Rexford Industrial Realty by 27.7% during the 1st quarter. CWM LLC now owns 895 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 194 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of Rexford Industrial Realty by 112.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 623 shares during the last quarter. Ellevest Inc. increased its position in shares of Rexford Industrial Realty by 35.9% during the 1st quarter. Ellevest Inc. now owns 1,583 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 418 shares during the last quarter. Finally, Ossiam increased its position in shares of Rexford Industrial Realty by 21.3% during the 1st quarter. Ossiam now owns 2,096 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 368 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
REXR has been the subject of a number of recent analyst reports. TheStreet downgraded Rexford Industrial Realty from a “b-” rating to a “c+” rating in a research report on Monday, October 23rd. Truist Financial dropped their target price on Rexford Industrial Realty from $56.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. Stifel Nicolaus dropped their target price on Rexford Industrial Realty from $60.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, October 19th. Scotiabank upgraded Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and set a $55.00 price objective for the company in a research note on Wednesday, November 8th. Finally, StockNews.com began coverage on Rexford Industrial Realty in a research note on Thursday, October 5th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $57.38.
Rexford Industrial Realty Stock Down 0.1 %
REXR stock traded down $0.06 during trading on Friday, hitting $46.99. 1,458,266 shares of the company’s stock were exchanged, compared to its average volume of 1,638,287. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $66.71. The business has a 50-day moving average price of $47.53 and a two-hundred day moving average price of $51.44. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 2.02 and a beta of 0.88.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). Rexford Industrial Realty had a net margin of 28.28% and a return on equity of 2.96%. The firm had revenue of $205.40 million during the quarter, compared to analysts’ expectations of $201.96 million. During the same quarter in the prior year, the firm posted $0.50 EPS. Rexford Industrial Realty’s quarterly revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.18 EPS for the current year.
Rexford Industrial Realty Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, December 28th. Rexford Industrial Realty’s payout ratio is currently 144.76%.
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.
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