Atom Investors LP Takes Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Atom Investors LP acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 93,015 shares of the real estate investment trust's stock, valued at approximately $4,680,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. M&G Plc grew its position in shares of Rexford Industrial Realty by 12.2% during the 2nd quarter. M&G Plc now owns 754,952 shares of the real estate investment trust's stock worth $33,973,000 after buying an additional 82,078 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in 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 valued at $3,089,000 after purchasing an additional 12,006 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Rexford Industrial Realty in the third quarter valued at approximately $3,376,000. SG Americas Securities LLC boosted its position in shares of Rexford Industrial Realty by 61.4% during the second quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust's stock worth $2,266,000 after purchasing an additional 19,340 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Rexford Industrial Realty by 15.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust's stock valued at $23,730,000 after buying an additional 64,264 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on REXR. Mizuho lowered their price target 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. Evercore ISI restated an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. 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. Finally, Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $51.09.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Up 0.1 %

Shares of NYSE:REXR traded up $0.05 during midday trading on Monday, hitting $42.13. The stock had a trading volume of 1,722,991 shares, compared to its average volume of 1,731,019. The company has a market cap of $9.37 billion, a P/E ratio of 34.21, a PEG ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 12 month low of $41.16 and a 12 month high of $58.02. The business's 50-day simple moving average is $45.27 and its 200-day simple moving average is $46.91. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business's revenue was up 17.7% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio is 135.77%.

Rexford Industrial Realty 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.