Westfield Capital Management Co. LP Has $36.61 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Westfield Capital Management Co. LP lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 13.7% during the first quarter, HoldingsChannel reports. The fund owned 727,744 shares of the real estate investment trust’s stock after purchasing an additional 87,760 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Rexford Industrial Realty were worth $36,606,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of REXR. Los Angeles Capital Management LLC boosted its holdings in Rexford Industrial Realty by 2.3% in the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 210 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Rexford Industrial Realty by 4.9% in the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 259 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Rexford Industrial Realty by 1.9% in the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 330 shares in the last quarter. Inspire Investing LLC boosted its holdings 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 purchasing an additional 331 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Rexford Industrial Realty by 0.7% in the fourth quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock worth $3,233,000 after purchasing an additional 407 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

REXR has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Barclays upped their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Mizuho decreased their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Wedbush initiated coverage on shares of Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target for the company. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.60.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded up $0.27 during mid-day trading on Friday, hitting $49.11. The company had a trading volume of 1,434,429 shares, compared to its average volume of 1,866,996. 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 3.21. The firm has a market cap of $10.70 billion, a P/E ratio of 45.06, a PEG ratio of 2.00 and a beta of 0.92. The business’s 50-day simple moving average is $45.50 and its 200-day simple moving average is $48.74.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly 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). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. During the same period last year, the company earned $0.54 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.32 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

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.