Legacy Wealth Asset Management LLC Buys 2,731 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Legacy Wealth Asset Management LLC boosted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 29.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,994 shares of the real estate investment trust’s stock after acquiring an additional 2,731 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Rexford Industrial Realty were worth $603,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in REXR. Massmutual Trust Co. FSB ADV increased its stake in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty during the second quarter valued at $26,000. UMB Bank n.a. lifted its position in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 864 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Down 2.8 %

REXR stock opened at $43.35 on Friday. The firm has a market cap of $9.44 billion, a P/E ratio of 39.77, a PEG ratio of 2.13 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company’s 50-day simple moving average is $49.36 and its 200-day simple moving average is $47.20.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on REXR shares. 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 report on Thursday, September 5th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $48.00 in a research report on Friday. Finally, Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $51.45.

About Rexford Industrial Realty

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.