Oak Thistle LLC purchased a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,591 shares of the real estate investment trust's stock, valued at approximately $1,548,000.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 139.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,339 shares of the real estate investment trust's stock worth $547,000 after purchasing an additional 4,277 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $882,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Rexford Industrial Realty by 37.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,575 shares of the real estate investment trust's stock worth $1,087,000 after acquiring an additional 3,978 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust's stock worth $1,693,104,000 after acquiring an additional 1,587,612 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Rexford Industrial Realty during the 1st quarter worth approximately $1,157,000. Institutional investors and hedge funds own 99.52% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on REXR. Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, February 15th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research note on Wednesday, February 7th. Barclays started coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an "underweight" rating and a $45.00 price objective for the company. Robert W. Baird restated a "neutral" rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Finally, TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $56.00.
Read Our Latest Stock Report on REXR
Rexford Industrial Realty Price Performance
Shares of NYSE:REXR traded down $1.46 during trading on Monday, reaching $48.84. 2,209,546 shares of the company traded hands, compared to its average volume of 1,723,283. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $60.06. The firm has a market capitalization of $10.50 billion, a PE ratio of 43.61, a PEG ratio of 2.16 and a beta of 0.87. The company's 50 day moving average is $52.12 and its two-hundred day moving average is $50.97.
Rexford Industrial Realty Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.42%. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, March 27th. Rexford Industrial Realty's dividend payout ratio is presently 149.11%.
Insider Buying and Selling at Rexford Industrial Realty
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.
About Rexford Industrial Realty
(
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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