Allspring Global Investments Holdings LLC increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,669,572 shares of the real estate investment trust's stock after purchasing an additional 218,055 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.79% of Rexford Industrial Realty worth $93,663,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in REXR. Quarry LP acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter worth about $28,000. Quent Capital LLC boosted its stake in shares of Rexford Industrial Realty by 594.4% during the 3rd quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust's stock worth $37,000 after buying an additional 636 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust's stock worth $55,000 after buying an additional 411 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Rexford Industrial Realty by 112.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust's stock worth $70,000 after buying an additional 623 shares during the last quarter. Finally, Ninepoint Partners LP bought a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $108,000. 99.52% of the stock is owned by institutional investors and hedge funds.
Rexford Industrial Realty Stock Performance
Rexford Industrial Realty stock traded up $0.37 during trading hours on Tuesday, hitting $49.36. The company had a trading volume of 1,936,300 shares, compared to its average volume of 1,736,659. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.51. The firm has a 50-day moving average of $51.49 and a 200 day moving average of $50.86. The firm has a market cap of $10.62 billion, a PE ratio of 44.07, a PEG ratio of 2.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35.
Rexford Industrial Realty Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 3.38%. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 149.11%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on REXR. Robert W. Baird reaffirmed a "neutral" rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Barclays began coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They issued an "underweight" rating and a $45.00 target price on the stock. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 target price on the stock. in a report on Wednesday, February 7th. Finally, Mizuho reissued a "neutral" rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $56.00.
Get Our Latest Analysis on Rexford Industrial Realty
Insider Transactions at Rexford Industrial Realty
In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm'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 legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.
Rexford Industrial Realty Profile
(
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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