MQS Management LLC Invests $662,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

MQS Management LLC bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,851 shares of the real estate investment trust’s stock, valued at approximately $662,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its stake in shares of Rexford Industrial Realty by 169.4% in the 2nd 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 in the last quarter. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty during the second quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $41,000. EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 627 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $51.02 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a fifty day moving average price of $50.04 and a two-hundred day moving average price of $47.68. The company has a market cap of $11.11 billion, a PE ratio of 46.81, a P/E/G ratio of 2.03 and a beta of 0.93.

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

Rexford Industrial Realty Increases Dividend

The business 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 dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Scotiabank raised their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Evercore ISI boosted their price target on Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho lowered their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.09.

About Rexford Industrial Realty

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.