Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 33,737 shares of the real estate investment trust’s stock after acquiring an additional 1,028 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Rexford Industrial Realty were worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in Rexford Industrial Realty by 4.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 259 shares in the last quarter. Xponance Inc. raised its position in Rexford Industrial Realty by 2.1% during the fourth quarter. Xponance Inc. now owns 25,444 shares of the real estate investment trust’s stock valued at $1,427,000 after acquiring an additional 527 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Rexford Industrial Realty by 1.5% during the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rexford Industrial Realty by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,054 shares of the real estate investment trust’s stock valued at $4,828,000 after buying an additional 3,271 shares in the last quarter. Finally, Strs Ohio increased its position in shares of Rexford Industrial Realty by 0.4% in the fourth quarter. Strs Ohio now owns 280,568 shares of the real estate investment trust’s stock valued at $15,739,000 after buying an additional 1,025 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $42.54 on Thursday. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The stock’s fifty day moving average is $49.70 and its two-hundred day moving average is $50.51. The firm has a market capitalization of $9.27 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same period last year, the company earned $0.52 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush assumed coverage on Rexford Industrial Realty in a research report on Monday. They issued a “neutral” rating and a $45.00 price objective for the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Truist Financial lowered their price target on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.73.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Rexford Industrial Realty 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.