New York Life Investment Management LLC Has $5.19 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

New York Life Investment Management LLC lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 188.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,561 shares of the real estate investment trust’s stock after buying an additional 60,517 shares during the period. New York Life Investment Management LLC’s holdings in Rexford Industrial Realty were worth $5,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of REXR. Principal Financial Group Inc. lifted its stake in Rexford Industrial Realty by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 13,579,313 shares of the real estate investment trust’s stock valued at $670,137,000 after purchasing an additional 46,811 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Rexford Industrial Realty by 1.9% during the 3rd quarter. Invesco Ltd. now owns 6,484,017 shares of the real estate investment trust’s stock worth $319,986,000 after acquiring an additional 120,596 shares during the period. Schroder Investment Management Group increased its holdings in shares of Rexford Industrial Realty by 0.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,582,529 shares of the real estate investment trust’s stock worth $127,448,000 after acquiring an additional 12,327 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rexford Industrial Realty by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,368,955 shares of the real estate investment trust’s stock worth $116,908,000 after purchasing an additional 93,050 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Rexford Industrial Realty by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,034,769 shares of the real estate investment trust’s stock worth $100,416,000 after buying an additional 8,238 shares during the period. Institutional investors own 99.52% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction 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 document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on REXR. Robert W. Baird cut their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial decreased their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Mizuho restated a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.36.

Rexford Industrial Realty Trading Up 2.2 %

REXR opened at $44.42 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 firm has a market capitalization of $9.68 billion, a PE ratio of 40.75, a P/E/G ratio of 1.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The company’s 50-day moving average is $48.38 and its 200 day moving average is $50.22.

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 for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The company had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal 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 given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

About Rexford Industrial Realty

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.