Edgestream Partners L.P. Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Edgestream Partners L.P. bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 38,926 shares of the real estate investment trust’s stock, valued at approximately $1,958,000.

Several other hedge funds have also recently made changes to their positions in the business. Fulton Bank N.A. lifted its position in Rexford Industrial Realty by 4.7% in the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 224 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 337 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Rexford Industrial Realty by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 345 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Rexford Industrial Realty by 169.4% during the 2nd 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 period. Finally, Naviter Wealth LLC boosted its stake in shares of Rexford Industrial Realty by 2.6% during the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 382 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other 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 transaction of $711,377.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a report on Monday, October 21st. Mizuho reduced their target price on 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. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Truist Financial reduced 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 assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Trading Up 0.1 %

NYSE:REXR opened at $42.12 on Tuesday. The firm has a 50-day simple moving average of $45.07 and a 200-day simple moving average of $46.88. Rexford Industrial Realty, Inc. has a one year low of $41.16 and a one year high of $58.02. The firm has a market cap of $9.37 billion, a P/E ratio of 34.24, a P/E/G ratio of 1.99 and a beta of 0.94. 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 issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

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.