Envestnet Asset Management Inc. Has $14.20 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Envestnet Asset Management Inc. raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 26.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 362,822 shares of the real estate investment trust’s stock after buying an additional 76,568 shares during the period. Envestnet Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $14,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 566 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 370 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at about $33,000. Finally, GAMMA Investing LLC grew its stake in shares of Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 978 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on REXR. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Barclays decreased their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.82.

Rexford Industrial Realty Stock Up 3.2%

REXR stock opened at $36.56 on Friday. The stock has a market capitalization of $8.65 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 3.25 and a beta of 1.13. The company has a current ratio of 5.59, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61. The firm has a 50-day moving average price of $36.10 and a 200-day moving average price of $37.28.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million during the quarter, compared to analysts’ expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.70%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 138.71%.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.