Whittier Trust Co. Purchases 235,007 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Whittier Trust Co. lifted its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1,460.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,099 shares of the real estate investment trust's stock after purchasing an additional 235,007 shares during the quarter. Whittier Trust Co. owned 0.11% of Rexford Industrial Realty worth $9,828,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Rexford Industrial Realty by 1.9% in 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 acquiring an additional 562,710 shares during the period. Massachusetts Financial Services Co. MA grew its position in Rexford Industrial Realty by 130.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after acquiring an additional 4,384,624 shares during the period. Centersquare Investment Management LLC grew its position in Rexford Industrial Realty by 32.3% in 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 acquiring an additional 1,097,349 shares during the period. Geode Capital Management LLC grew its position in Rexford Industrial Realty by 1.7% in 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 acquiring an additional 70,710 shares during the period. Finally, Rush Island Management LP bought a new stake in Rexford Industrial Realty in the fourth quarter valued at $132,701,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on REXR shares. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research report on Tuesday, March 25th. Barclays decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Truist Financial decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Scotiabank decreased their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Two investment 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's stock. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of "Hold" and an average target price of $40.00.

Rexford Industrial Realty Trading Down 1.3%

NYSE:REXR traded down $0.46 during mid-day trading on Thursday, hitting $35.86. The company had a trading volume of 4,024,556 shares, compared to its average volume of 2,226,801. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The business's fifty day moving average is $36.02 and its two-hundred day moving average is $37.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.90 and a current ratio of 4.90. The firm has a market cap of $8.49 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.32 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. Rexford Industrial Realty's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Company 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.