Rexford Industrial Realty, Inc. (NYSE:REXR) Position Boosted by Inspire Investing LLC

Inspire Investing LLC lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,913 shares of the real estate investment trust’s stock after purchasing an additional 787 shares during the quarter. Inspire Investing LLC’s holdings in Rexford Industrial Realty were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in REXR. Massmutual Trust Co. FSB ADV lifted its position in 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 worth $25,000 after buying an additional 349 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Rexford Industrial Realty during the second quarter worth $26,000. Headlands Technologies LLC acquired a new stake in Rexford Industrial Realty during the second quarter valued at $41,000. EverSource Wealth Advisors LLC grew its stake in Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position 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 purchasing an additional 627 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

REXR has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on 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. Scotiabank increased their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Truist Financial raised their price target on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Evercore ISI raised their target price on Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.50.

Rexford Industrial Realty Stock Down 2.0 %

Shares of REXR stock opened at $51.13 on Monday. 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 firm has a market cap of $11.14 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. The stock has a 50 day moving average of $50.14 and a 200-day moving average of $47.64.

Rexford Industrial Realty (NYSE:REXR) last released its 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 company had revenue of $237.60 million for 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%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 earnings per share. On average, equities analysts predict 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 will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, September 30th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

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.