Everence Capital Management Inc. Makes New $291,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Everence Capital Management Inc. purchased a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,530 shares of the real estate investment trust’s stock, valued at approximately $291,000.

Several other hedge funds have also recently modified their holdings of REXR. UMB Bank n.a. grew its stake in Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC lifted its position in Rexford Industrial Realty by 111.7% during the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 976 shares during the last quarter. Archer Investment Corp boosted its stake in Rexford Industrial Realty by 61.5% in the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Rexford Industrial Realty in the third quarter worth $129,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $38.45 on Wednesday. The business’s 50-day moving average is $41.08 and its two-hundred day moving average is $45.98. The company has a market capitalization of $8.55 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty, Inc. has a fifty-two week low of $37.67 and a fifty-two week high of $56.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the business earned $0.56 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on REXR. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.09.

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.