GAMMA Investing LLC Invests $41,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

GAMMA Investing LLC acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 773 shares of the real estate investment trust’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp grew its stake in shares of Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 411 shares in the last quarter. Ninepoint Partners LP acquired a new position in Rexford Industrial Realty in the 3rd quarter valued at about $108,000. Signaturefd LLC increased its stake in Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 714 shares during the period. International Assets Investment Management LLC increased its stake in Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 3,031 shares during the period. Finally, Cetera Trust Company N.A acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $189,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Wedbush assumed coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective on the stock. Robert W. Baird lowered their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial reduced their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.36.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $44.42 on Friday. The company’s 50 day simple moving average is $48.38 and its 200-day simple moving average is $50.22. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The firm has a market cap of $9.68 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 1.85 and a beta of 0.89. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41.

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

Rexford Industrial Realty Cuts Dividend

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

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.