Capital International Investors Acquires New Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Capital International Investors bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,487,023 shares of the real estate investment trust’s stock, valued at approximately $139,522,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. Victory Capital Management Inc. increased its holdings in Rexford Industrial Realty by 11.5% during the third quarter. Victory Capital Management Inc. now owns 38,318 shares of the real estate investment trust’s stock valued at $1,891,000 after buying an additional 3,966 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of Rexford Industrial Realty by 71.4% in the third quarter. New York Life Investment Management LLC now owns 32,044 shares of the real estate investment trust’s stock worth $1,581,000 after purchasing an additional 13,350 shares in the last quarter. Swiss National Bank increased its stake in shares of Rexford Industrial Realty by 1.1% in the third quarter. Swiss National Bank now owns 441,816 shares of the real estate investment trust’s stock worth $21,804,000 after purchasing an additional 4,600 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Rexford Industrial Realty by 103.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,591,399 shares of the real estate investment trust’s stock worth $78,536,000 after purchasing an additional 808,134 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Rexford Industrial Realty by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,368,955 shares of the real estate investment trust’s stock worth $116,908,000 after purchasing an additional 93,050 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REXR has been the subject of a number of analyst reports. Wedbush initiated coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective for the company. Barclays increased their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Scotiabank dropped their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.82.

Check Out Our Latest Stock Report on Rexford Industrial Realty

Rexford Industrial Realty Price Performance

REXR stock opened at $43.99 on Thursday. 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 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $45.36 and a two-hundred day simple moving average of $50.28. The firm has a market capitalization of $9.58 billion, a P/E ratio of 40.59, a price-to-earnings-growth ratio of 1.81 and a beta of 0.93.

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

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.79%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Rexford Industrial Realty Profile

(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.

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

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