Napa Wealth Management Buys 831 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Napa Wealth Management lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 15.4% in the 3rd quarter, Holdings Channel reports. The fund owned 6,225 shares of the real estate investment trust’s stock after acquiring an additional 831 shares during the quarter. Napa Wealth Management’s holdings in Rexford Industrial Realty were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quest Partners LLC acquired a new position in Rexford Industrial Realty in the 3rd quarter worth $449,000. Thrivent Financial for Lutherans lifted its holdings in shares of Rexford Industrial Realty by 160.9% in the third quarter. Thrivent Financial for Lutherans now owns 270,164 shares of the real estate investment trust’s stock valued at $13,592,000 after purchasing an additional 166,604 shares in the last quarter. Archer Investment Corp boosted its position in shares of Rexford Industrial Realty by 61.5% during the third 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 period. Impax Asset Management Group plc acquired a new position in shares of Rexford Industrial Realty during the third quarter worth about $667,000. Finally, Metis Global Partners LLC grew its holdings in shares of Rexford Industrial Realty by 30.7% during the third quarter. Metis Global Partners LLC now owns 22,547 shares of the real estate investment trust’s stock worth $1,134,000 after buying an additional 5,295 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Down 0.4 %

Shares of NYSE:REXR opened at $41.84 on Monday. Rexford Industrial Realty, Inc. has a 52-week low of $41.16 and a 52-week high of $58.02. The company has a market capitalization of $9.30 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The company has a fifty day moving average of $46.92 and a 200-day moving average of $47.05.

Rexford Industrial Realty (NYSE:REXR) last posted its 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 the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Mizuho decreased their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $51.09.

Insider Activity

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Rexford Industrial Realty 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.