Centersquare Investment Management LLC Buys 164,590 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Centersquare Investment Management LLC lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,895,394 shares of the real estate investment trust’s stock after purchasing an additional 164,590 shares during the period. Rexford Industrial Realty accounts for approximately 2.4% of Centersquare Investment Management LLC’s holdings, making the stock its 17th largest holding. Centersquare Investment Management LLC owned about 1.85% of Rexford Industrial Realty worth $218,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new position in Rexford Industrial Realty during the fourth quarter worth about $41,000. Principal Securities Inc. bought a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $96,000. International Assets Investment Management LLC lifted its holdings in shares of Rexford Industrial Realty by 5,510.9% in the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 3,031 shares in the last quarter. Cetera Trust Company N.A bought a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $189,000. Finally, Shell Asset Management Co. lifted its holdings in shares of Rexford Industrial Realty by 20.0% in the third quarter. Shell Asset Management Co. now owns 4,540 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 758 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $44.93 on Wednesday. The business’s 50 day moving average price is $45.48 and its two-hundred day moving average price is $50.33. The company has a market cap of $9.79 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Robert W. Baird cut their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Truist Financial cut their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Scotiabank cut their price target on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Barclays lifted their target price 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. Finally, Mizuho lowered their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $52.82.

Check Out Our Latest Stock Report on Rexford Industrial Realty

About Rexford Industrial Realty

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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