New York Life Investment Management LLC Has $5.19 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

New York Life Investment Management LLC lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 188.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,561 shares of the real estate investment trust's stock after acquiring an additional 60,517 shares during the period. New York Life Investment Management LLC's holdings in Rexford Industrial Realty were worth $5,193,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 139.5% in the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust's stock valued at $11,491,000 after purchasing an additional 135,627 shares during the period. Pacer Advisors Inc. boosted its stake in Rexford Industrial Realty by 12.8% during the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust's stock valued at $11,647,000 after acquiring an additional 23,510 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Rexford Industrial Realty during the 4th quarter valued at $3,327,000. Daiwa Securities Group Inc. boosted its stake in Rexford Industrial Realty by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust's stock valued at $4,480,000 after acquiring an additional 1,171 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Rexford Industrial Realty by 6.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust's stock valued at $15,506,000 after acquiring an additional 19,981 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush assumed coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a "neutral" rating and a $45.00 price objective on the stock. Mizuho reiterated a "neutral" rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Robert W. Baird reduced their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a "neutral" rating on the stock in a research report on Wednesday. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Barclays raised their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.36.

Rexford Industrial Realty Stock Performance

Shares of REXR stock traded up $0.92 during trading hours on Friday, reaching $44.40. The stock had a trading volume of 1,705,347 shares, compared to its average volume of 2,686,672. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The firm has a 50-day simple moving average of $48.38 and a 200-day simple moving average of $50.23. The firm has a market capitalization of $9.67 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same period last year, the business earned $0.52 EPS. The firm's revenue was up 15.0% on a year-over-year basis. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.76%. Rexford Industrial Realty's payout ratio is 153.21%.

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 firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Rexford Industrial Realty Company Profile

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.