Mitsubishi UFJ Asset Management Co. Ltd. Buys 10,016 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Rexford Industrial Realty, Inc. by 6.8%, now owning approximately $6.17 million worth of shares.
• Institutional investors hold 99.52% of Rexford Industrial Realty's stock, with other notable increases in holdings from firms such as MassMutual and Bessemer Group.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, resulting in an annualized yield of 4.7% despite a payout ratio of 127.41%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,559 shares of the real estate investment trust's stock after purchasing an additional 10,016 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Rexford Industrial Realty worth $6,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in REXR. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 978 shares during the last quarter. Finally, Avalon Trust Co acquired a new position in shares of Rexford Industrial Realty in the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on REXR. Barclays decreased their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI cut shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus price target of $39.82.

Rexford Industrial Realty Stock Up 1.1%

Shares of NYSE:REXR traded up $0.40 on Friday, reaching $38.19. The company had a trading volume of 3,202,532 shares, compared to its average volume of 2,213,541. The stock has a market capitalization of $9.04 billion, a P/E ratio of 28.29, a P/E/G ratio of 4.20 and a beta of 1.10. The stock has a 50-day moving average price of $36.83 and a 200 day moving average price of $36.99. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The firm had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same period in the previous year, the company earned $0.60 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.5%. Rexford Industrial Realty's payout ratio is currently 127.41%.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.