Tidal Investments LLC raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,235 shares of the real estate investment trust's stock after buying an additional 35,802 shares during the period. Tidal Investments LLC owned about 0.09% of Rexford Industrial Realty worth $8,012,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after buying an additional 562,710 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after buying an additional 954,202 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 32.3% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after buying an additional 1,097,349 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rexford Industrial Realty by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after buying an additional 70,710 shares during the last quarter. Finally, Rush Island Management LP purchased a new stake in Rexford Industrial Realty during the fourth quarter valued at approximately $132,701,000. 99.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on REXR shares. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Barclays dropped their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Scotiabank dropped their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Finally, Truist Financial dropped their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and an average target price of $40.00.
Check Out Our Latest Stock Report on REXR
Rexford Industrial Realty Stock Performance
Shares of NYSE:REXR traded up $0.14 during trading on Friday, hitting $34.68. 3,734,459 shares of the stock traded hands, compared to its average volume of 1,980,453. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a fifty day moving average price of $35.04 and a two-hundred day moving average price of $38.53. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.
Rexford Industrial Realty Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's payout ratio is presently 138.71%.
About Rexford Industrial Realty
(
Free Report)
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.
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