Highline Wealth Partners LLC Takes Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Highline Wealth Partners LLC bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,527 shares of the real estate investment trust’s stock, valued at approximately $177,000.

Other large investors have also recently bought and sold shares of the company. State of Michigan Retirement System raised its position in shares of Rexford Industrial Realty by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,782 shares of the real estate investment trust’s stock worth $2,605,000 after acquiring an additional 1,100 shares in the last quarter. Naviter Wealth LLC lifted its position in shares of Rexford Industrial Realty by 53.9% during the 1st quarter. Naviter Wealth LLC now owns 13,932 shares of the real estate investment trust’s stock worth $707,000 after buying an additional 4,879 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of Rexford Industrial Realty by 5.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,727 shares of the real estate investment trust’s stock worth $690,000 after buying an additional 685 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Rexford Industrial Realty by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 123,265 shares of the real estate investment trust’s stock valued at $6,199,000 after buying an additional 420 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Rexford Industrial Realty in the 1st quarter valued at $284,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $44.14 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty, Inc. has a one year low of $41.89 and a one year high of $58.02. The firm has a market capitalization of $9.61 billion, a P/E ratio of 40.37, a PEG ratio of 2.07 and a beta of 0.93. The company’s fifty day moving average is $49.09 and its two-hundred day moving average is $47.13.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Buying and Selling

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on REXR shares. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Mizuho decreased their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Truist Financial increased their price target on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $51.45.

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.