Edgestream Partners L.P. Makes New $1.96 Million Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Edgestream Partners L.P. purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 38,926 shares of the real estate investment trust's stock, valued at approximately $1,958,000.

Several other institutional investors have also recently made changes to their positions in REXR. DekaBank Deutsche Girozentrale raised its holdings in shares of Rexford Industrial Realty by 23.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust's stock worth $3,089,000 after purchasing an additional 12,006 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 864 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 349 shares during the period. Fulton Bank N.A. grew its position in Rexford Industrial Realty by 17.5% during the second quarter. Fulton Bank N.A. now owns 4,814 shares of the real estate investment trust's stock valued at $215,000 after buying an additional 716 shares during the period. Finally, CWM LLC grew its position in Rexford Industrial Realty by 73.9% during the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 631 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

REXR traded down $0.03 on Tuesday, reaching $42.10. 1,458,671 shares of the company's stock were exchanged, compared to its average volume of 1,729,851. The stock has a market cap of $9.36 billion, a PE ratio of 34.23, a P/E/G ratio of 2.00 and a beta of 0.93. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02. The stock's fifty day moving average price is $44.87 and its 200-day moving average price is $46.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $241.84 million for the quarter, compared to analysts' expectations of $235.81 million. During the same period last year, the firm earned $0.56 earnings per share. Rexford Industrial Realty's revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.

Wall Street Analyst Weigh In

Several research firms recently commented on REXR. StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Scotiabank lowered shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Mizuho dropped their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $51.09.

Insiders Place Their Bets

In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 available at the SEC website. 1.20% of the stock is owned by insiders.

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.