Cerity Partners LLC Has $2.35 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Cerity Partners LLC grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 29.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,818 shares of the real estate investment trust’s stock after acquiring an additional 9,434 shares during the period. Cerity Partners LLC’s holdings in Rexford Industrial Realty were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its position in Rexford Industrial Realty by 1.7% in the 1st quarter. BlackRock Inc. now owns 24,373,926 shares of the real estate investment trust’s stock worth $1,453,905,000 after purchasing an additional 412,984 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rexford Industrial Realty by 7.5% during the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after acquiring an additional 1,587,612 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Rexford Industrial Realty by 0.3% during the third quarter. Principal Financial Group Inc. now owns 13,579,313 shares of the real estate investment trust’s stock valued at $670,137,000 after acquiring an additional 46,811 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Rexford Industrial Realty by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,023,551 shares of the real estate investment trust’s stock valued at $657,556,000 after acquiring an additional 591,329 shares during the last quarter. Finally, State Street Corp increased its position in Rexford Industrial Realty by 5.8% in the first quarter. State Street Corp now owns 10,520,590 shares of the real estate investment trust’s stock worth $631,483,000 after purchasing an additional 579,957 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Up 2.2 %

Shares of Rexford Industrial Realty stock opened at $43.19 on Friday. The company has a market capitalization of $9.41 billion, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50-day moving average of $50.62 and a two-hundred day moving average of $50.68. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The business had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. During the same period in the previous year, the company posted $0.52 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.4175 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on REXR. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, February 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Barclays began coverage on Rexford Industrial Realty in a report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.60.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

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.