Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,818 shares of the real estate investment trust’s stock after buying an additional 9,434 shares during the period. Cerity Partners LLC’s holdings in Rexford Industrial Realty were worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $28,000. Fifth Third Bancorp lifted its stake in shares of Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 411 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Rexford Industrial Realty by 112.7% during the first 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 in the last quarter. First Manhattan Co. purchased a new stake in shares of Rexford Industrial Realty in the first quarter worth about $151,000. Finally, Ossiam grew its stake in shares of Rexford Industrial Realty by 21.3% in the first quarter. Ossiam now owns 2,096 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 368 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $43.19 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The business’s fifty day moving average price is $50.62 and its 200 day moving average price is $50.68. The stock has a market capitalization of $9.41 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Wednesday, March 27th. Rexford Industrial Realty’s payout ratio is presently 153.21%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on REXR. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. Barclays initiated coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target for the company. Mizuho reiterated a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Robert W. Baird reissued a “neutral” rating and issued a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $55.60.

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.