Sophron Capital Management L.P. Takes $15.01 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sophron Capital Management L.P. bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter, Holdings Channel reports. The firm bought 388,303 shares of the real estate investment trust’s stock, valued at approximately $15,012,000. Rexford Industrial Realty comprises approximately 5.9% of Sophron Capital Management L.P.’s portfolio, making the stock its 2nd biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UMB Bank n.a. increased its stake in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares in the last quarter. Utah Retirement Systems increased its position in Rexford Industrial Realty by 0.8% in the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust’s stock valued at $1,392,000 after acquiring an additional 300 shares in the last quarter. CIBC Asset Management Inc increased its position in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 355 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of 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 worth $123,000 after acquiring an additional 371 shares during the last quarter. Finally, Isthmus Partners LLC lifted its position in shares of Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $35.74 on Monday. The firm’s 50 day simple moving average is $35.53 and its 200 day simple moving average is $38.79. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results 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. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is currently 138.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Scotiabank dropped their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. Barclays cut their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Truist Financial lowered their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.00.

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.