AR Asset Management Inc. Acquires 31,500 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

AR Asset Management Inc. lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 110.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,100 shares of the real estate investment trust’s stock after acquiring an additional 31,500 shares during the quarter. AR Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $2,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in REXR. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. grew its stake in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA grew its stake in shares of Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 370 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 800 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 978 shares during the period. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 1.1%

Shares of NYSE:REXR opened at $38.19 on Friday. The firm has a market cap of $9.04 billion, a P/E ratio of 28.29, a P/E/G ratio of 4.20 and a beta of 1.10. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The business has a fifty day simple moving average of $36.83 and a 200 day simple moving average of $36.99.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. Rexford Industrial Realty’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty’s payout ratio is presently 127.41%.

Wall Street Analysts Forecast Growth

REXR has been the subject of a number of analyst reports. Barclays decreased their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Scotiabank decreased their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Truist Financial cut their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.82.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.