Intech Investment Management LLC Boosts Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Intech Investment Management LLC grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 160.3% in the third quarter, Holdings Channel.com reports. The firm owned 19,161 shares of the real estate investment trust’s stock after buying an additional 11,800 shares during the period. Intech Investment Management LLC’s holdings in Rexford Industrial Realty were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of REXR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Rexford Industrial Realty by 9.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 350,199 shares of the real estate investment trust’s stock worth $17,619,000 after acquiring an additional 31,307 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Rexford Industrial Realty by 49.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 965 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Rexford Industrial Realty in the 3rd quarter worth about $2,225,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Rexford Industrial Realty during the 3rd quarter valued at about $3,376,000. Finally, Napa Wealth Management increased its position in shares of Rexford Industrial Realty by 15.4% during the third quarter. Napa Wealth Management now owns 6,225 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 831 shares during the period. 99.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Truist Financial decreased 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 report on Tuesday, November 12th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $51.09.

Insider Buying and Selling

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 stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Rexford Industrial Realty Price Performance

REXR opened at $42.53 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.46 billion, a P/E ratio of 34.43, a PEG ratio of 2.03 and a beta of 0.94. The stock has a 50-day moving average price of $45.81 and a 200-day moving average price of $46.98. Rexford Industrial Realty, Inc. has a 12-month low of $41.16 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (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 firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same period in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal 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 issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Rexford Industrial Realty Company 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.