Bank of Montreal Can Takes Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Bank of Montreal Can purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 63,939 shares of the real estate investment trust’s stock, valued at approximately $3,444,000.

Other large investors also recently bought and sold shares of the company. CWM LLC lifted its position in Rexford Industrial Realty by 27.7% in the first quarter. CWM LLC now owns 895 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 194 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 623 shares during the last quarter. Ellevest Inc. lifted its position in Rexford Industrial Realty by 35.9% in the first quarter. Ellevest Inc. now owns 1,583 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 418 shares during the last quarter. First Manhattan Co. acquired a new position in Rexford Industrial Realty in the first quarter valued at about $151,000. Finally, Ossiam lifted its position in Rexford Industrial Realty by 21.3% in the first quarter. Ossiam now owns 2,096 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 1.6 %

REXR stock opened at $45.81 on Monday. The company’s 50 day moving average price is $49.02 and its 200 day moving average price is $52.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 0.66. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $66.71. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 43.63, a PEG ratio of 1.94 and a beta of 0.88.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). Rexford Industrial Realty had a return on equity of 2.96% and a net margin of 28.28%. The firm had revenue of $205.40 million for the quarter, compared to analysts’ expectations of $201.96 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.18 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. Rexford Industrial Realty’s payout ratio is currently 144.76%.

Analysts Set New Price Targets

A number of research analysts have commented on REXR shares. Scotiabank started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, September 12th. They issued a “sector perform” rating and a $59.00 target price on the stock. Wolfe Research raised shares of Rexford Industrial Realty from a “peer perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Tuesday, September 19th. Stifel Nicolaus reduced their price target on shares of Rexford Industrial Realty from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. StockNews.com started coverage on shares of Rexford Industrial Realty in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Truist Financial reduced their price target on shares of Rexford Industrial Realty from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.88.

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.