Park Avenue Securities LLC Has $362,000 Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Park Avenue Securities LLC raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 9.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,255 shares of the real estate investment trust’s stock after acquiring an additional 811 shares during the quarter. Park Avenue Securities LLC’s holdings in Rexford Industrial Realty were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REXR. Van ECK Associates Corp lifted its position in Rexford Industrial Realty by 0.7% in the 4th quarter. Van ECK Associates Corp now owns 101,386 shares of the real estate investment trust’s stock valued at $3,919,000 after acquiring an additional 664 shares in the last quarter. New York State Teachers Retirement System lifted its position in Rexford Industrial Realty by 1.7% in the 4th quarter. New York State Teachers Retirement System now owns 213,493 shares of the real estate investment trust’s stock valued at $8,254,000 after acquiring an additional 3,559 shares in the last quarter. Rhumbline Advisers lifted its position in Rexford Industrial Realty by 3.2% in the 4th quarter. Rhumbline Advisers now owns 679,817 shares of the real estate investment trust’s stock valued at $26,282,000 after acquiring an additional 21,093 shares in the last quarter. Meixler Investment Management Ltd. bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $437,000. Finally, Sanctuary Advisors LLC lifted its position in Rexford Industrial Realty by 18.8% in the 4th quarter. Sanctuary Advisors LLC now owns 23,782 shares of the real estate investment trust’s stock valued at $969,000 after acquiring an additional 3,760 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Barclays cut their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.00.

Rexford Industrial Realty Stock Down 0.8%

Rexford Industrial Realty stock opened at $36.63 on Monday. The firm has a market capitalization of $8.67 billion, a PE ratio of 30.27, a P/E/G ratio of 2.62 and a beta of 1.14. The company’s 50-day moving average is $34.36 and its 200-day moving average is $37.82. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty’s payout ratio is 138.71%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.