Ashton Thomas Private Wealth LLC Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Ashton Thomas Private Wealth LLC purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,400 shares of the real estate investment trust's stock, valued at approximately $1,328,000.

A number of other large investors also recently modified their holdings of REXR. SG Americas Securities LLC lifted its position in Rexford Industrial Realty by 2.9% in the first quarter. SG Americas Securities LLC now owns 31,482 shares of the real estate investment trust's stock worth $1,584,000 after purchasing an additional 895 shares during the period. Swiss National Bank grew its holdings in Rexford Industrial Realty by 2.6% during the first quarter. Swiss National Bank now owns 416,816 shares of the real estate investment trust's stock worth $20,966,000 after acquiring an additional 10,500 shares during the period. Inspire Investing LLC raised its position in Rexford Industrial Realty by 4.9% in the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust's stock worth $358,000 after acquiring an additional 331 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Rexford Industrial Realty by 32.8% during the 1st quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust's stock valued at $8,040,000 after purchasing an additional 39,524 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Rexford Industrial Realty by 15.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 311,038 shares of the real estate investment trust's stock worth $15,645,000 after purchasing an additional 41,493 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Down 0.4 %

Shares of REXR stock traded down $0.16 during trading on Thursday, hitting $41.70. 1,171,968 shares of the company were exchanged, compared to its average volume of 1,725,244. The business's 50-day simple moving average is $47.24 and its 200 day simple moving average is $47.07. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 1.98 and a beta of 0.94. 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 (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the business earned $0.56 EPS. The company's quarterly revenue was up 17.7% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's payout ratio is currently 135.77%.

Insiders Place Their Bets

In related news, CFO Laura E. Clark sold 14,185 shares of the business's stock in a transaction that occurred 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 available at this hyperlink. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

REXR has been the topic of several research reports. Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. StockNews.com lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 28th. Truist Financial cut their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Mizuho decreased their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Two 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.09.

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.