Legacy Wealth Asset Management LLC Buys 2,613 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Legacy Wealth Asset Management LLC raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,607 shares of the real estate investment trust’s stock after purchasing an additional 2,613 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Rexford Industrial Realty were worth $565,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Rexford Industrial Realty by 164.3% in the 3rd 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 period. GAMMA Investing LLC boosted its holdings in Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 976 shares during the period. Archer Investment Corp boosted its holdings in Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Rexford Industrial Realty in the 3rd quarter valued at $129,000. Finally, International Assets Investment Management LLC boosted its holdings in Rexford Industrial Realty by 4,835.8% in the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,563 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Trading Down 1.7 %

Shares of REXR stock opened at $39.06 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $8.69 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.75 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $56.14. The firm has a 50-day moving average price of $40.25 and a 200 day moving average price of $45.59.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on REXR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a report on Tuesday. They set a “hold” rating and a $40.00 price objective for the company. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.42.

About Rexford Industrial Realty

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.