Pinebridge Investments L.P. Cuts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Pinebridge Investments L.P. lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 77.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,732 shares of the real estate investment trust’s stock after selling 48,017 shares during the period. Pinebridge Investments L.P.’s holdings in Rexford Industrial Realty were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of REXR. GAMMA Investing LLC bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $41,000. Principal Securities Inc. bought a new stake in shares of Rexford Industrial Realty in the fourth quarter worth about $96,000. International Assets Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 5,510.9% in the fourth 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 in the last quarter. Cetera Trust Company N.A bought a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $189,000. Finally, Shell Asset Management Co. grew its holdings in Rexford Industrial Realty by 20.0% during the 3rd quarter. Shell Asset Management Co. now owns 4,540 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 758 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank lowered their target price on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Robert W. Baird lowered their price objective on shares of 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 boosted their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday, April 23rd. Mizuho lowered their price target 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, Truist Financial reduced their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.82.

Check Out Our Latest Analysis on Rexford Industrial Realty

Rexford Industrial Realty Price Performance

REXR opened at $44.12 on Friday. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $45.13 and a 200 day moving average of $50.24. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The stock has a market cap of $9.61 billion, a P/E ratio of 40.48, a PEG ratio of 1.78 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates 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 company 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 posted $0.52 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.78%. Rexford Industrial Realty’s payout ratio is 153.21%.

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.

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

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