Meixler Investment Management Ltd. Invests $437,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Meixler Investment Management Ltd. bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,315 shares of the real estate investment trust’s stock, valued at approximately $437,000.

Several other institutional investors have also added to or reduced their stakes in REXR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rexford Industrial Realty by 338.0% in the 3rd 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 purchasing an additional 1,489,876 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 954,202 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Rexford Industrial Realty by 14.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Brookfield Corp ON acquired a new position in Rexford Industrial Realty in the 3rd quarter valued at $13,838,000. Finally, Daiwa Securities Group Inc. raised its holdings in Rexford Industrial Realty by 19.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock valued at $72,870,000 after acquiring an additional 237,624 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho dropped their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.75.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $40.39 on Friday. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $53.88. The business has a 50-day simple moving average of $39.61 and a two-hundred day simple moving average of $44.52. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market cap of $8.98 billion, a PE ratio of 33.38, a PEG ratio of 2.28 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.39 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 138.02%.

Rexford Industrial Realty 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.