Whittier Trust Co. Raises Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

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

A number of other large investors have also bought and sold shares of REXR. Massachusetts Financial Services Co. MA boosted its position in shares of Rexford Industrial Realty by 130.2% during 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 purchasing an additional 4,384,624 shares in the last quarter. Rush Island Management LP bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $132,701,000. Norges Bank bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $104,685,000. Long Pond Capital LP bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $58,595,000. Finally, Northern Trust Corp boosted its position in shares of Rexford Industrial Realty by 94.3% during the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a report on Tuesday, May 6th. Barclays dropped 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 price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday, March 25th. Finally, Truist Financial decreased their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Stock Performance

REXR traded up $1.13 during midday trading on Friday, reaching $36.56. The company had a trading volume of 4,691,011 shares, compared to its average volume of 2,231,457. The company has a quick ratio of 4.90, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $36.10 and a two-hundred day moving average of $37.28. The company has a market cap of $8.65 billion, a P/E ratio of 27.08, a P/E/G ratio of 3.25 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is presently 127.41%.

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.