Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,737 shares of the real estate investment trust’s stock after buying an additional 1,028 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Rexford Industrial Realty were worth $1,893,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of REXR. Fifth Third Bancorp raised its position in Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the last quarter. Ninepoint Partners LP purchased a new position in Rexford Industrial Realty in the 3rd quarter worth about $108,000. Signaturefd LLC raised its position in Rexford Industrial Realty by 45.9% in the 3rd quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 714 shares during the last quarter. International Assets Investment Management LLC raised its position in Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 3,031 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Rexford Industrial Realty by 13.9% during the 3rd quarter. Assetmark Inc. now owns 4,016 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 2.7 %

REXR stock opened at $42.54 on Thursday. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.92 and a beta of 0.86. The business has a 50 day simple moving average of $49.70 and a two-hundred day simple moving average of $50.51.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.92%. Rexford Industrial Realty’s payout ratio is 153.21%.

Analyst Ratings Changes

Several equities research analysts have recently commented on REXR shares. Wedbush started coverage on shares of Rexford Industrial Realty in a research report on Monday. They set a “neutral” rating and a $45.00 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Barclays upped their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.73.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty 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.