Pacer Advisors Inc. Purchases 23,510 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Pacer Advisors Inc. raised its position in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 207,609 shares of the real estate investment trust’s stock after acquiring an additional 23,510 shares during the quarter. Pacer Advisors Inc.’s holdings in Rexford Industrial Realty were worth $11,647,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new position in Rexford Industrial Realty in the fourth quarter valued at about $254,000. Raymond James & Associates lifted its holdings in Rexford Industrial Realty by 26.8% in the fourth quarter. Raymond James & Associates now owns 96,907 shares of the real estate investment trust’s stock valued at $5,436,000 after acquiring an additional 20,476 shares during the period. SG Americas Securities LLC lifted its holdings in Rexford Industrial Realty by 21.9% in the fourth quarter. SG Americas Securities LLC now owns 30,587 shares of the real estate investment trust’s stock valued at $1,716,000 after acquiring an additional 5,487 shares during the period. Whittier Trust Co. lifted its holdings in Rexford Industrial Realty by 34.2% in the fourth quarter. Whittier Trust Co. now owns 24,952 shares of the real estate investment trust’s stock valued at $1,400,000 after acquiring an additional 6,356 shares during the period. Finally, Handelsinvest Investeringsforvaltning bought a new position in Rexford Industrial Realty in the fourth quarter valued at about $469,000. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on REXR shares. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Wednesday, February 7th. Truist Financial decreased their price objective on Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Finally, TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $57.22.

Read Our Latest Report on Rexford Industrial Realty

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Rexford Industrial Realty Stock Down 3.2 %

Shares of REXR opened at $48.97 on Wednesday. The business’s 50 day moving average is $52.49 and its 200 day moving average is $51.05. The company has a market capitalization of $10.53 billion, a PE ratio of 43.72, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $60.06. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.71%.

Rexford Industrial Realty Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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