Rexford Industrial Realty, Inc. (NYSE:REXR) Position Boosted by Creative Planning

Creative Planning lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 27.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,913 shares of the real estate investment trust’s stock after purchasing an additional 3,824 shares during the period. Creative Planning’s holdings in Rexford Industrial Realty were worth $799,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of REXR. Massmutual Trust Co. FSB ADV lifted its position in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Rexford Industrial Realty during the second quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in Rexford Industrial Realty during the second quarter worth about $41,000. EverSource Wealth Advisors LLC raised its stake in Rexford Industrial Realty by 1,252.2% during the first 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 during the period. Finally, Advisors Asset Management Inc. raised its stake in Rexford Industrial Realty by 136.6% during the first 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. Institutional investors own 99.52% of the company’s stock.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at approximately $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $711,377.75. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $47.34 on Friday. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $10.39 billion, a PE ratio of 39.45, a P/E/G ratio of 1.93 and a beta of 0.93. The company’s 50 day simple moving average is $50.08 and its 200 day simple moving average is $47.43.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. During the same quarter in the prior year, the business earned $0.54 EPS. Rexford Industrial Realty’s revenue was up 21.3% compared to the same quarter last year. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 139.17%.

Analysts Set New Price Targets

REXR has been the topic of several research reports. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Scotiabank raised their price target on shares of 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given 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 $52.50.

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.