First Financial Bank Trust Division Has $1.98 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

First Financial Bank Trust Division lessened its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 51,315 shares of the real estate investment trust’s stock after selling 1,748 shares during the period. First Financial Bank Trust Division’s holdings in Rexford Industrial Realty were worth $1,984,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rexford Industrial Realty by 338.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after acquiring an additional 1,489,876 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rexford Industrial Realty by 26.9% in the 3rd 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. Canada Pension Plan Investment Board grew its holdings in shares of Rexford Industrial Realty by 41.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after purchasing an additional 938,177 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Rexford Industrial Realty by 38.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Rexford Industrial Realty by 52.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock worth $53,990,000 after purchasing an additional 417,037 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

REXR has been the topic of a number of research analyst reports. Truist Financial cut their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Mizuho reduced their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Trading Down 0.6 %

Shares of REXR traded down $0.24 during mid-day trading on Thursday, reaching $38.42. 1,421,485 shares of the company were exchanged, compared to its average volume of 1,757,747. The business has a 50 day simple moving average of $41.40 and a two-hundred day simple moving average of $46.09. Rexford Industrial Realty, Inc. has a 52 week low of $37.67 and a 52 week high of $56.87. The stock has a market capitalization of $8.54 billion, a PE ratio of 31.24, a PEG ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.35%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

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.