Paralel Advisors LLC Purchases 6,000 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Paralel Advisors LLC lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 17.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,000 shares of the real estate investment trust’s stock after acquiring an additional 6,000 shares during the quarter. Paralel Advisors LLC’s holdings in Rexford Industrial Realty were worth $1,784,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted 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 worth $25,000 after purchasing an additional 349 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the period. Advisors Asset Management Inc. grew its stake in Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 627 shares in the last quarter. Finally, Quarry LP raised its holdings in Rexford Industrial Realty by 195.8% during the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 740 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on REXR shares. Wells Fargo & Company reduced their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Mizuho decreased their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial raised their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Scotiabank increased their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $54.00.

Rexford Industrial Realty Price Performance

REXR stock traded down $0.82 during mid-day trading on Friday, hitting $49.35. 2,520,776 shares of the stock were exchanged, compared to its average volume of 1,119,074. The business has a fifty day moving average price of $49.21 and a 200 day moving average price of $47.78. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.07 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.38%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

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.