GAMMA Investing LLC Purchases Shares of 773 Rexford Industrial Realty, Inc. (NYSE:REXR)

GAMMA Investing LLC acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 773 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in Rexford Industrial Realty by 4.9% during the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 259 shares during the period. Xponance Inc. lifted its holdings in Rexford Industrial Realty by 1.5% in the third quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after purchasing an additional 359 shares during the period. Arizona State Retirement System grew its position in Rexford Industrial Realty by 0.7% in the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after buying an additional 407 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Rexford Industrial Realty by 1.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 30,244 shares of the real estate investment trust’s stock valued at $1,493,000 after buying an additional 408 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Performance

REXR stock opened at $44.42 on Friday. The stock has a market cap of $9.68 billion, a P/E ratio of 40.75, a P/E/G ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. The firm has a 50 day simple moving average of $48.38 and a 200 day simple moving average of $50.22. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday. Mizuho reiterated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Wedbush assumed coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.36.

Rexford Industrial Realty Company 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.