Virtu Financial LLC Invests $607,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Virtu Financial LLC acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,069 shares of the real estate investment trust’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in Rexford Industrial Realty by 116.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after buying an additional 24,793 shares during the last quarter. M&G Plc bought a new stake in Rexford Industrial Realty in the 1st quarter worth approximately $33,644,000. First Financial Bank Trust Division bought a new stake in Rexford Industrial Realty in the 1st quarter worth approximately $2,551,000. GSI Capital Advisors LLC lifted its position in Rexford Industrial Realty by 45.0% in the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock worth $10,718,000 after buying an additional 59,320 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Rexford Industrial Realty in the 4th quarter worth approximately $3,327,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on REXR. JPMorgan Chase & Co. boosted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Mizuho lowered their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Truist Financial boosted their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI assumed coverage on Rexford Industrial Realty in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 price objective for the company. Finally, Barclays boosted their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty presently has an average rating of “Hold” and an average price target of $52.70.

Rexford Industrial Realty Stock Down 2.6 %

REXR stock traded down $1.30 during midday trading on Friday, hitting $49.17. The stock had a trading volume of 1,401,417 shares, compared to its average volume of 1,767,188. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 45.11, a price-to-earnings-growth ratio of 2.05 and a beta of 0.91. The business has a 50-day moving average of $46.18 and a two-hundred day moving average of $48.35. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week 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.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share 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%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.40%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

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.