TD Asset Management Inc Cuts Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

TD Asset Management Inc lessened its position in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,516 shares of the real estate investment trust’s stock after selling 2,580 shares during the quarter. TD Asset Management Inc’s holdings in Rexford Industrial Realty were worth $3,507,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. GSI Capital Advisors LLC lifted its holdings in Rexford Industrial Realty by 45.0% in the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after purchasing an additional 59,320 shares in the last quarter. United Services Automobile Association boosted its position in Rexford Industrial Realty by 12.4% during the fourth quarter. United Services Automobile Association now owns 16,590 shares of the real estate investment trust’s stock worth $931,000 after acquiring an additional 1,829 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Rexford Industrial Realty during the fourth quarter worth about $35,903,000. Nomura Asset Management Co. Ltd. raised its holdings in Rexford Industrial Realty by 4.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 247,209 shares of the real estate investment trust’s stock valued at $13,868,000 after acquiring an additional 10,167 shares during the last quarter. Finally, Allstate Corp purchased a new position in Rexford Industrial Realty in the 4th quarter worth approximately $2,959,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $44.66 on Friday. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. The company has a 50 day moving average price of $45.25 and a 200 day moving average price of $50.24. The stock has a market capitalization of $9.73 billion, a P/E ratio of 40.97, a PEG ratio of 1.78 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 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 for the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.73%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Wall Street Analysts Forecast Growth

REXR has been the subject of a number of analyst reports. Robert W. Baird dropped their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Barclays upped their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Truist Financial reduced their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Wedbush assumed coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.82.

Check Out Our Latest Stock Analysis on REXR

Rexford Industrial Realty Company 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.

Further Reading

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

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