Rush Island Management LP Purchases New Shares in Rexford Industrial Realty, Inc. (NYSE:REXR)

Rush Island Management LP purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,432,508 shares of the real estate investment trust's stock, valued at approximately $132,701,000. Rexford Industrial Realty comprises about 8.8% of Rush Island Management LP's holdings, making the stock its 5th largest holding. Rush Island Management LP owned approximately 1.54% of Rexford Industrial Realty as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Rexford Industrial Realty in the 4th quarter worth approximately $33,000. UMB Bank n.a. raised its position in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after buying an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter worth $65,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after buying an additional 2,709 shares during the period. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

REXR traded down $0.92 during trading on Wednesday, reaching $34.20. 1,493,339 shares of the company's stock were exchanged, compared to its average volume of 1,946,895. The company has a market capitalization of $8.10 billion, a P/E ratio of 28.30, a PEG ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $35.39 and a 200 day moving average price of $38.71. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.43 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.03%. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on REXR shares. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Barclays cut their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial lowered 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. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and an average price target of $40.00.

About Rexford Industrial Realty

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.