Here’s What Makes Rexford Industrial Realty (REXR) A Great Investment

Baron Funds, an asset management firm, published its “Baron Discovery Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.13% was delivered by the fund’s institutional shares for the fourth quarter of 2021, which was better than the Russell 2000 Growth Index’s 0.01% return, but below the S&P 500 Index’s gain of 11.03% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron Discovery Fund, in its Q4 2021 investor letter, mentioned Rexford Industrial Realty, Inc. (NYSE: REXR) and discussed its stance on the firm. Rexford Industrial Realty, Inc. is a Los Angeles, California-based real estate investment trust company with a $10.9 billion market capitalization. REXR delivered a -10.55% return since the beginning of the year, while its 12-month returns are up by 46.21%. The stock closed at $72.55 per share on January 20, 2022.

Here is what Baron Discovery Fund has to say about Rexford Industrial Realty, Inc. in its Q4 2021 investor letter:

“Rexford Industrial Realty, Inc. contributed positively to performance during the fourth quarter. Rexford is a high-growth REIT that owns a portfolio of industrial warehouse properties concentrated in Southern California. Outperformance was driven by continued robust business fundamentals that led to better-than-expected third quarter financial results and raised full-year guidance. Rexford is also seeing accelerating acquisition activity, which is accretive to the company’s profitability.”

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Our calculations show that Rexford Industrial Realty, Inc. (NYSE: REXR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. REXR was in 29 hedge fund portfolios at the end of the third quarter of 2021, compared to 21 funds in the previous quarter. Rexford Industrial Realty, Inc. (NYSE: REXR) delivered an 11.10% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.