Resolution Capital Ltd Acquires Shares of 1,345,700 Rexford Industrial Realty, Inc. (NYSE:REXR)

Resolution Capital Ltd bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,345,700 shares of the real estate investment trust’s stock, valued at approximately $52,025,000. Rexford Industrial Realty comprises 0.9% of Resolution Capital Ltd’s holdings, making the stock its 21st biggest position.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $33,000. UMB Bank n.a. raised its stake in shares of 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 worth $39,000 after purchasing an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. increased its position 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 buying an additional 2,709 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

REXR stock opened at $35.11 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The business’s fifty day moving average is $35.70 and its 200-day moving average is $38.97. The company has a market cap of $8.31 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 138.71%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a 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. JPMorgan Chase & Co. decreased 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. Finally, Truist Financial cut their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.00.

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.