Corebridge Financial Inc. Sells 7,847 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Corebridge Financial Inc. lowered its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 251,172 shares of the real estate investment trust’s stock after selling 7,847 shares during the period. Corebridge Financial Inc. owned about 0.11% of Rexford Industrial Realty worth $9,710,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in REXR. Quantbot Technologies LP bought a new position in shares of Rexford Industrial Realty during the fourth quarter valued at about $33,000. UMB Bank n.a. boosted its holdings in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 1,248 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Rexford Industrial Realty by 4,104.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,709 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 0.7 %

REXR stock opened at $39.90 on Thursday. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $52.61. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The business’s 50 day moving average price is $40.35 and its two-hundred day moving average price is $42.57. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.31%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on REXR. Mizuho cut their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank cut their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Barclays lowered their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Robert W. Baird reduced their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.83.

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.