Reinhart Partners LLC. Boosts Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Reinhart Partners LLC. raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 282,598 shares of the real estate investment trust’s stock after purchasing an additional 4,518 shares during the period. Reinhart Partners LLC. owned 0.13% of Rexford Industrial Realty worth $10,925,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 447 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. GAMMA Investing LLC grew its position in shares of Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 976 shares during the last quarter. Archer Investment Corp grew its position in shares of Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 800 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Rexford Industrial Realty in the 3rd quarter worth approximately $129,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE REXR traded up $0.58 on Monday, hitting $37.75. The company had a trading volume of 967,680 shares, compared to its average volume of 1,576,926. The company has a market capitalization of $8.40 billion, a PE ratio of 30.69, a PEG ratio of 1.94 and a beta of 0.95. The company’s fifty day moving average price is $40.66 and its 200-day moving average price is $45.80. 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, Inc. has a 12-month low of $36.92 and a 12-month high of $56.14.

Rexford Industrial Realty (NYSE:REXR) last released 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 return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same period in the previous year, the company earned $0.56 EPS. Rexford Industrial Realty’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Analysts Set New Price Targets

REXR has been the subject of a number of recent analyst reports. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Truist Financial decreased their price objective 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. Finally, Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $50.27.

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.