Envestnet Asset Management Inc. Has $14.20 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Envestnet Asset Management Inc. increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 26.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,822 shares of the real estate investment trust’s stock after purchasing an additional 76,568 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Rexford Industrial Realty worth $14,204,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC boosted its holdings in shares of Rexford Industrial Realty by 7.3% in the 1st quarter. Chilton Capital Management LLC now owns 348,913 shares of the real estate investment trust’s stock worth $13,776,000 after acquiring an additional 23,752 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rexford Industrial Realty by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,789,826 shares of the real estate investment trust’s stock worth $70,072,000 after acquiring an additional 12,764 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Rexford Industrial Realty by 2.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,244 shares of the real estate investment trust’s stock worth $1,810,000 after acquiring an additional 1,100 shares in the last quarter. Teacher Retirement System of Texas increased its position in Rexford Industrial Realty by 198.3% in the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust’s stock valued at $1,528,000 after acquiring an additional 25,945 shares in the last quarter. Finally, Private Trust Co. NA increased its position in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $36.56 on Friday. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.25 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company’s fifty day simple moving average is $36.10 and its 200 day simple moving average is $37.28. The company has a current ratio of 5.59, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.70%. Rexford Industrial Realty’s payout ratio is 138.71%.

Analysts Set New Price Targets

REXR has been the subject of several analyst reports. Evercore ISI cut shares of Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $39.00 to $38.00 in a research report on Friday. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Barclays cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.82.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.