Rush Island Management LP Takes $132.70 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paradigm Asset Management Co. LLC bought a new position in shares of Rexford Industrial Realty during the fourth quarter valued at $1,082,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rexford Industrial Realty by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock valued at $107,587,000 after purchasing an additional 93,360 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Rexford Industrial Realty by 63.6% during the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock valued at $839,000 after purchasing an additional 8,431 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Rexford Industrial Realty by 760,280.0% during the fourth quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust's stock valued at $1,470,000 after purchasing an additional 38,014 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $35.40 on Friday. 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 simple moving average of $35.61 and a two-hundred day simple moving average of $38.91. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

Analyst Ratings Changes

REXR has been the topic of a number of recent research reports. Evercore ISI lowered their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a report on Tuesday, March 25th. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Scotiabank lowered their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty currently has an average rating of "Hold" and a consensus target price of $42.00.

Rexford Industrial Realty Company 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.

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