Hennion & Walsh Asset Management Inc. Trims Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 19.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,304 shares of the real estate investment trust’s stock after selling 3,504 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty in the 4th quarter worth about $41,000. Quarry LP grew its holdings in 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 purchasing an additional 740 shares during the period. Principal Securities Inc. acquired a new position in Rexford Industrial Realty during the fourth quarter worth approximately $96,000. International Assets Investment Management LLC raised its stake in Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 3,031 shares during the period. Finally, Cetera Trust Company N.A purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $189,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR stock opened at $44.42 on Tuesday. The stock’s 50 day moving average is $44.48 and its two-hundred day moving average is $49.50. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a market capitalization of $9.68 billion, a PE ratio of 40.75, a P/E/G ratio of 1.80 and a beta of 0.92. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, April 18th. 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). The company had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.417 dividend. This represents a $1.67 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on REXR. Wedbush began coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. Mizuho decreased their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Truist Financial cut their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays boosted their price objective on shares of 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, Robert W. Baird cut their target price on shares of 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.44.

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.