AR Asset Management Inc. Raises Stake in Rexford Industrial Realty, Inc. $REXR

AR Asset Management Inc. lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,050 shares of the real estate investment trust’s stock after purchasing an additional 20,000 shares during the period. AR Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $2,522,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty in the 4th quarter valued at about $31,000. Cassaday & Co Wealth Management LLC bought a new position in Rexford Industrial Realty in the 1st quarter worth about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $34,000. Wiser Advisor Group LLC bought a new stake in shares of Rexford Industrial Realty during the third quarter valued at approximately $34,000. Finally, Allworth Financial LP raised its stake in shares of Rexford Industrial Realty by 140.3% during the third quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 574 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Scotiabank upgraded Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $38.00 to $36.00 in a report on Thursday, June 18th. Zacks Research raised Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Evercore raised Rexford Industrial Realty from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, April 13th. Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Finally, Truist Financial dropped their price target on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $40.38.

Rexford Industrial Realty Trading Down 1.0%

NYSE:REXR opened at $36.75 on Thursday. Rexford Industrial Realty, Inc. has a 52 week low of $32.14 and a 52 week high of $44.38. The firm has a 50 day moving average of $34.83 and a 200 day moving average of $36.14. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 1.55 and a beta of 1.21.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Rexford Industrial Realty had a return on equity of 2.64% and a net margin of 23.25%.The firm had revenue of $242.14 million for the quarter, compared to the consensus estimate of $243.78 million. During the same period in the previous year, the business earned $0.62 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 33,299 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total value of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares in the company, valued at $1,181,115.53. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.