Van ECK Associates Corp Has $4.44 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Van ECK Associates Corp boosted its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 15.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 79,137 shares of the real estate investment trust’s stock after purchasing an additional 10,828 shares during the period. Van ECK Associates Corp’s holdings in Rexford Industrial Realty were worth $4,440,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $41,000. Fifth Third Bancorp boosted its holdings in shares of Rexford Industrial Realty by 58.2% during 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 in the last quarter. Ninepoint Partners LP acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $108,000. Signaturefd LLC increased its stake in shares of 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 valued at $112,000 after acquiring an additional 714 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 5,510.9% during the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 3,031 shares during the period. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 2.1 %

NYSE REXR opened at $44.40 on Monday. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $48.38 and a 200 day simple moving average of $50.25. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The firm has a market capitalization of $9.67 billion, a P/E ratio of 40.73, a PEG ratio of 1.94 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) 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 firm 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 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed 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 3.76%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Wall Street Analyst Weigh In

REXR has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Robert W. Baird cut their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Mizuho restated a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, February 7th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.36.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Company 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.