Renaissance Technologies LLC Grows Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Renaissance Technologies LLC grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 237.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 341,000 shares of the real estate investment trust’s stock after purchasing an additional 239,909 shares during the period. Renaissance Technologies LLC owned approximately 0.16% of Rexford Industrial Realty worth $15,205,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in REXR. Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $25,000 after purchasing an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in Rexford Industrial Realty by 1,252.2% in 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 during the last quarter. Finally, Advisors Asset Management Inc. raised 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 last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of 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. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Down 2.0 %

Shares of REXR stock opened at $51.13 on Friday. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The firm has a fifty day moving average price of $50.14 and a 200-day moving average price of $47.68. 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 company has a market cap of $11.22 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 2.10 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data 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 net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. During the same period in the previous year, the firm earned $0.54 EPS. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on REXR shares. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Truist Financial boosted their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Evercore ISI boosted their price objective on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Scotiabank boosted their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. One research 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. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $52.50.

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.