Headlands Technologies LLC Buys Shares of 929 Rexford Industrial Realty, Inc. (NYSE:REXR)

Headlands Technologies LLC bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 929 shares of the real estate investment trust’s stock, valued at approximately $41,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in shares of Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares during the period. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty in the second quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the period. Advisors Asset Management Inc. lifted its holdings in Rexford Industrial Realty by 136.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Quarry LP grew its position in Rexford Industrial Realty by 195.8% during the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 740 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Activity at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on REXR shares. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Truist Financial increased their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Finally, Mizuho cut their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.09.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $51.26 on Wednesday. The business’s 50-day moving average price is $49.95 and its two-hundred day moving average price is $47.66. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.17 billion, a PE ratio of 47.03, a P/E/G ratio of 2.03 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. During the same period in the previous year, the company earned $0.54 EPS. Rexford Industrial Realty’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 153.21%.

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.