Walleye Capital LLC Buys 8,785 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Walleye Capital LLC lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 146.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,769 shares of the real estate investment trust’s stock after acquiring an additional 8,785 shares during the quarter. Walleye Capital LLC’s holdings in Rexford Industrial Realty were worth $1,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Rexford Industrial Realty during the 4th quarter worth $248,000. HighTower Advisors LLC raised its stake in shares of Rexford Industrial Realty by 18.1% in the fourth quarter. HighTower Advisors LLC now owns 13,389 shares of the real estate investment trust’s stock worth $1,085,000 after purchasing an additional 2,051 shares during the last quarter. Pictet Asset Management SA raised its position in Rexford Industrial Realty by 8.9% during the fourth quarter. Pictet Asset Management SA now owns 56,852 shares of the real estate investment trust’s stock valued at $4,611,000 after acquiring an additional 4,649 shares in the last quarter. abrdn plc raised its position in Rexford Industrial Realty by 15.1% during the fourth quarter. abrdn plc now owns 32,448 shares of the real estate investment trust’s stock valued at $2,632,000 after acquiring an additional 4,267 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Rexford Industrial Realty by 2.7% in the fourth quarter. Allianz Asset Management GmbH now owns 302,861 shares of the real estate investment trust’s stock valued at $24,565,000 after purchasing an additional 7,834 shares during the period. 99.50% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Trading Down 2.4 %

NYSE:REXR opened at $58.51 on Monday. The stock has a 50-day simple moving average of $63.55 and a 200-day simple moving average of $66.86. The stock has a market cap of $10.01 billion, a P/E ratio of 61.59, a P/E/G ratio of 2.68 and a beta of 0.77. Rexford Industrial Realty, Inc. has a 1 year low of $55.84 and a 1 year high of $84.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The firm had revenue of $149.12 million during the quarter, compared to analyst estimates of $149.21 million. Rexford Industrial Realty had a net margin of 29.79% and a return on equity of 3.17%. The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 1.93 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 132.63%.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 15,350 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $65.27, for a total value of $1,001,894.50. Following the transaction, the chief executive officer now directly owns 52,720 shares of the company’s stock, valued at $3,441,034.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

REXR has been the topic of a number of recent research reports. Wolfe Research assumed coverage on Rexford Industrial Realty in a research note on Tuesday, June 21st. They set a “market perform” rating and a $63.00 price objective on the stock. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Jefferies Financial Group lowered their target price on Rexford Industrial Realty from $89.00 to $73.00 in a research note on Thursday, June 30th. Wells Fargo & Company boosted their target price on Rexford Industrial Realty from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Finally, Robert W. Baird boosted their target price on Rexford Industrial Realty from $87.00 to $89.00 in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $77.80.

Rexford Industrial Realty Company Profile

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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