Exchange Traded Concepts LLC Purchases 1,130 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Exchange Traded Concepts LLC raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 67.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,801 shares of the real estate investment trust’s stock after purchasing an additional 1,130 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Rexford Industrial Realty were worth $141,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of Rexford Industrial Realty by 63.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,797 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 4,954 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 210 shares in the last quarter. Vert Asset Management LLC increased its holdings in Rexford Industrial Realty by 10.7% in the first quarter. Vert Asset Management LLC now owns 87,783 shares of the real estate investment trust’s stock worth $4,415,000 after purchasing an additional 8,519 shares in the last quarter. State of Michigan Retirement System grew its stake in Rexford Industrial Realty by 2.2% in the first quarter. State of Michigan Retirement System now owns 51,782 shares of the real estate investment trust’s stock valued at $2,605,000 after acquiring an additional 1,100 shares during the period. Finally, Naviter Wealth LLC grew its stake in Rexford Industrial Realty by 53.9% in the first quarter. Naviter Wealth LLC now owns 13,932 shares of the real estate investment trust’s stock valued at $707,000 after acquiring an additional 4,879 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction dated 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 owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $44.65 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.73 and a current ratio of 1.20. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.89 and a beta of 0.93. The business’s fifty day moving average is $49.70 and its 200 day moving average is $47.27.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.74%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Analyst Ratings Changes

A number of equities research analysts have commented on REXR shares. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $49.00 in a research note on Monday. Scotiabank lifted their price target on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Truist Financial boosted their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.09.

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.